Jefferies Downgrades NEFF Corp. (NEFF) to Hold
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Jefferies downgraded NEFF Corp. (NYSE: NEFF) from Buy to Hold with a price target of $14.00 (from $12.00) on leverage concerns post run-up.
Analyst Justin Jordan commented, "Southern-based NEFF has a strong regional franchise. We see larger national peers better placed to win infrastructure work and benefit from Trump stimulus. While raising our price target from $12 to $14 (based on 5.4x CY17 EV/EBITDA), reflecting leverage concerns we downgrade from Buy to Hold post a 49% gain since 8 November."
Shares of NEFF Corp. closed at $13.55 yesterday.
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