Oppenheimer Maintains Perform on Schweitzer-Mauduit Int'l (SWM)

Oppenheimer is out with its report today on Schweitzer-Mauduit Int'l SWM, maintaining Perform.

In a note to clients, Oppenheimer writes, "Maintain Perform. Increase 2012 EPS to $5.91, from $5.12 to include run-rate EU LIP benefits. SWM has net cash of $36M and FCF of $100M+. We believe SWM could repurchase shares or pay a large dividend in 2012, after management rules out the possibility of a large ($1bn+) M&A transaction to diversify away from tobacco."

Shares of SWM closed Monday at $52.69, up 2.13% from Friday's close.