Citi Maintains Actuant $32 PT (ATU)

Citi maintained its Actuant ATU $32 price target in a research note published today.

In the report, Citi states, "Investors have come to expect more than the in-line results Actuant delivered in 2Q11, and worries about the recently closed Mastervolt deal contributed to the 4.5% share price decline in an upmarket. We are willing to look through tepid Mastervolt sales (in its debut and seasonally weakest quarter) and focus on its attractive positioning in the long-term solar megatrend and our unchanged target for year-one accretion of <5c."

Shares of Actuant closed Thursday at $26.10, reflecting no change from Wednesday's market close.