Benzinga | Nov 8, 2021 09:29AM EST

KeyBanc Bumps Up EnPro Industries Price Target By 15%

* KeyBanc analyst Jeffrey Hammond raised the price target on EnPro Industries, Inc. (NYSE:NPO) to $132 (an upside of 31.6%) from $115 and maintained an Overweight rating on the shares following the company's Q3 earnings and conference call.

* The analyst is "encouraged" by the company's "impressive execution" within the base business despite near-term headwinds and walks away with increased conviction around EnPro's portfolio transformation strategy with the NxEdge acquisition announcement.

* Hammond sees above-average earnings momentum for EnPro and significant room for upward multiple revisions as investors better appreciate the most recent portfolio changes.

* Also Read: EnPro Industries To Acquire NxEdge For $850M.

* Price Action: NPO shares closed higher by 8.73% at $100.23 on Friday.