Hudson Securities Raises Albany International PT To $31, Maintains Buy (AIN)

Hudson Securities raised its Albany International AIN price target to $31 from $28 and maintained Albany International's Buy rating in a research report published today. In the report, Hudson Securities states, "Even factoring out another volatile (but beneficial in 4Q) quarter of currency movements, Albany is on track to deliver adjusted EBITDA of $40 million a quarter provided that raw material inflation can have a minimal impact on PMC margin. The offsets to this inflation would be further utilization of the company's low cost PMC facility in China, yield management, and continued improvement in the company's non-PMC businesses. AEC should become additive to EBITDA in 2011 and be an earnings contributor in 2012." Shares of Albany International were trading at $24.74 at the time of posting, up 0.49% from Friday's market close.