UPDATE: McGraw-Hill Shares Hit Year High on Acquisition, Analyst PT Raise

By Midnight Trader,  October 11, 2012, 01:14:57 PM EDT

Shares of McGraw-Hill Companies ( MHP )are up 1% to $55.71, but slightly off the 52-week high of $56 reached earlier today.

The movement comes after the company said that its Platts unit, a provider of energy, petrochemicals and metals information, has signed a definitive agreement to acquire Kingsman SA, a privately-held, Switzerland-based provider of price information and analytics for the global sugar and biofuels markets.

The acquisition, whose purchase price was not disclosed, is expected to close

on November 1, subject to customary closing conditions.

Shares also remained in demand due to yesterday's Buy reiteration at Jeffries, concurrent with a price target increase to $64.00 from $54.00.

MHP shares have traded in a 52-week range of $40.50 - $56.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: MHP



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