Graham price target raised to $45 from $35 at Noble Capital

Noble Capital raised the firm’s price target on Graham (GHM) to $45 from $35 and keeps an Outperform rating on the shares. Graham’s Q2 results exceeded expectations as “strong” sales growth, along with “exceptional execution throughout the business,” drove meaningful margin expansion, the analyst tells investors. The balance sheet “remained stellar” and Graham raised full year gross margin and adjusted EBITDA estimates, the analyst added.