Colfax to provide pumping solutions for French Navy nuclear subs
Colfax Corporation announced its Colfax-Imo Pompes Business Unit in France will provide oil pumps and other fluid-handling systems for Barracuda-class nuclear submarines being built for the French Navy. Colfax will deliver the first pumping systems to French naval-defense contractor Direction des Constructions Navales Services between the end of 2010 and the beginning of 2011. They will be used aboard the Suffren, the first of six submarines that will enter active service between 2016 and 2027. Colfax will continue to provide service, training, parts and documentation for its systems during the service life of the vessels. :theflyonthewall.com
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Today's noteworthy upgrades include: Polypore (PPO) upgraded to Outperform from Neutral at RW Baird...Kraton Performance (KRA) upgraded to Buy from Hold at KeyBanc...Alliant Energy (LNT) upgraded to Outperform from Market Perform at Wells Fargo...M.D.C. Holdings (MDC) upgraded to Buy from Neutral at Goldman...Tenneco (TEN) upgraded to Conviction Buy from Buy at Goldman...Kelly Services (KELYA) upgraded to Buy from Neutral at Citigroup...FedEx (FDX) upgraded to Buy from Neutral at BofA/Merrill...Colfax (CFX) upgraded to Buy from Neutral at BofA/Merrill...Comerica (CMA) upgraded to Outperform from Sector Perform at RBC Capital...Brown & Brown (BRO) upgraded to Outperform from Market Perform at William Blair...Disney (DIS) upgraded to Buy from Neutral at Davenport...Kenneth Cole (KCP) upgraded at Sterne Agee. :theflyonthewall.com
As previously reported, BofA/Merrill upgraded Colfax to Buy from Neutral. The firm cites accretion from the Charter International acquisition and geographic exposure for the upgrade. Price target raised to $42 from $30. :theflyonthewall.com