Ferro sees FY13 adj. EPS 25c-30c, consensus 27c The expected increase in earnings compared with 2012 will be driven primarily by initiatives now underway that are expected to generate $25M-$30M of cost savings in 2013 and the exit from the solar pastes business. The expected improvements in the Company's cost structure will be partially offset by inflation and the normalization of incentive compensation.
Ferro upgraded at KeyBanc As previously reported, KeyBanc upgraded Ferro to Buy from Hold. The firm upgraded shares based on sustainable execution and earnings growth and raised estimate to reflect the acquisition of Vetriceramici and cost savings. Price target is $20.