Morgan Keegan Dropping Coverage On Mine Safety Appliances (MSA)

Morgan Keegan is dropping coverage on shares of Mine Safety Appliances MSA. In the research report Morgan Keegan writes, "We believe MSA is a solid company and expect it to be well positioned once its target markets recover, but with declining homeland security grants we expect the company to be more and more tied to its industrial/construction markets going forward and less aligned to the security industry. We are therefore dropping coverage of MSA. Our final rating of Market Perform, price target of $25, and our previous financial projections should not be relied upon going forward due to our termination of coverage." Shares of Mine Safety Appliances are down 2 cents to $22.80 so far in Monday trading.