D.A. Davidson Reiterates Neutral, Raises Price Target On Aegion As Restructuring Benefits Lift Operating Earnings

In a report published Friday, D.A. Davidson analyst John B. Rogers reiterated a Neutral rating on

, and raised the price target from $17.00 to $20.00. In the report, D.A. Davidson noted, "Aegion reported a GAAP loss of $0.90 per share from continuing operations, well below our estimate of an $0.11 per share loss and earnings of $0.38 last year. Adjusted earnings, which exclude restructuring, impairment and other charges, increased to $0.48 from $0.40 last year. These results are shown in the attached model." Aegion closed on Thursday at $17.68.