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Article: Farmhouse Equity Research Initiates Coverage of Merrimac Industries With a Strong Buy Rating and $10 Price Target.
- Article from:
- Business Wire
- Article date:
- January 16, 2003
CopyrightCOPYRIGHT 2003 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
PORTSMOUTH, R.I.--(BUSINESS WIRE)--Jan. 16, 2003
Farmhouse Equity Research, LLC initiated coverage of West Caldwell, New Jersey-based Merrimac Industries (AMEX:MRM) with a Strong Buy Rating and $10 price target.
Senior Analyst, J. P. Mark, writes in his report, "We find compelling reasons for rating Merrimac shares as a Strong Buy, and for assessing a 12-month price target of $10 per share. Our price target is based on a 15% premium to the company's current book value, which we believe is a conservative measure given Merrimac's relatively low growth position, but taking into account the company's overall health and ...