J.P. Morgan Raising F2011 EPS Forecast On RPM International

According to J.P. Morgan, RPM International's RPM F2011 EPS forecast is raised from $1.38 to $1.45 to reflect the better than expected F3Q:11 results. J.P. Morgan reported that it is lifting its F2012 EPS estimate from $1.55 to $1.75 reflecting higher volumes and margin recovery. “We are increasing our Industrial profit forecast from $252Mn to $310Mn in F2012 reflecting a recovery in the maintenance & repair end markets led by higher industrial production, higher utilization rates, and capacity expansion. We are also edging up our Consumer profit forecast from $151Mn to $155Mn reflecting slowly improving demand consistent with trends in existing home sales. Our initial F2013 EPS projection is $2.05.” RPM International closed yesterday at $25.22.