Dresser-Rand initiated with Buy rating at Gabelli

|About: Dresser-Rand Group Inc. (DRC)|By:, SA News Editor

Dresser-Rand (DRC +2.1%) is started at Gabelli with a Buy rating and $70 price target, citing the company's largest installed base of oil and gas compressors and leading compressor technology, which provides a cash-generative suite of assets with steady, recurring aftermarket revenues.

Operations are currently challenged, creating aftermarket mix among the highest in industrials, working capital normalization, current valuation, and operational activist ValueAct Capital among potential sources of upside.