Oppenheimer Reports on Esco Technologies

In a report released today, Oppenheimer commented on Esco Technologies ESE. In the report, Oppenheimer was positive in its assessment of the company. Oppenheimer writes, "We are initiating coverage of ESCO Technologies with an Outperform rating and a $46 price target, representing 30% upside potential from current levels. Our favorable view on the shares is based on our belief that utility spending is inflecting and, with penetration rates for automated meter infrastructure remaining low on a global basis, this should provide meaningful growth opportunities. Meanwhile, we believe ESE is well exposed to an accelerating Boeing production cycle. Both of these factors combined should support a solid growth profile and drive meaningful earnings leverage" Oppenheimer currently has an Outperform rating on Esco Technologies and a price target of $46. Shares of the company closed the trading day Friday at $35.51, down $0.21 from the opening bell.