Hudson Maintains Buy on Briggs & Stratton (BGG)

Hudson is out with its report on Briggs & Stratton BGG, maintaining Buy and a $27 PT. In a note to clients, Hudson writes, "As we enter the big seasonal quarters of the fiscal year, Briggs & Stratton is in good shape from an inventory standpoint and sales are outpacing guidance of a 2-4% increase. Raw materials should be offset by pricing and sales mix in Engines. In Power Products the company sounds like there is more work to do as operating margins are well below a target of 6-8%. Stock remains at an attractively valuation in our view. We are maintaining our 2011 EPS of $1.37 and our 2012 EPS of $1.69. We are maintaining our price target of $27 based on 16x our 2012 EPS of $1.69." At the time of this posting, shares of BGG were trading at $20.47, down 3.22% from Thursday's close.