Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Markets & Finance

Wachovia Ups Rating on Goodrich

The board of directors of Goodrich (GR) approved a special stock dividend of EnPro Industries shares. Wachovia upgraded Goodrich shares to buy from hold.

Analyst Sam Pearlstein says the EnPro spin-off should improve Goodrich's multiple. He says Goodrich trades at a discount to its peers. Pearlstein thinks any weakness from an expected dividend cut to $0.80 per year from $1.10 may be an opportunity for investors. He assumes no value for EnPro, as he expects asbestos liabilities could offset its value; any positive value should increase shareholders' overall investment value. Therefore, he believes investors are better served by owning the stock prior to the spin-off. The analyst believes Goodrich shares will trade in line with those of its competitors within several quarters. He has a $40 price target on Goodrich shares.

blog comments powered by Disqus