Dynamic Materials price target raised to $27 from $18 at DA Davidson DA Davidson increased its price target on Dynamic Materials as the firm expects the company's EPS to increase 22% in 2013 and 42% in 2014. The firm expects the company to provide a positive outlook for 2013 on its Q4 conference call, and it maintains a Buy rating on the stock.
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Dynamic Materials sees Q3 sales up 1%-3% YoY Sees Q3 sales up 1%-3% from the $54.3M reported in last year's Q3. Sees Q3 gross margin 27%-29% versus the 31% reported in last year's Q3. The expected gross margin decline reflects the anticipated third quarter results of NobelClad, which is forecasting a dip in sales and less favorable product mix, both of which are expected to improve in the Q4.