Stifel Cuts Price Target as SPX Flow (FLOW) Releases Negative 3Q Preannouncement
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Stifel maintained a Buy rating on SPX Flow (NYSE: FLOW), and cut the price target to $33.00 (from $39.00), following the company's negative 3Q preannouncement. SPX is expecting revenue of $467 million, down substantially from the $490-$510 million previous guidance. Adjusted EPS is expected to be in the range of $0.30-$0.35, compared with the prior guidance range of $0.40-$0.50.
Analyst Nathan Jones commented, "We maintain our Buy rating but are reducing our target price from $39 to $33 based on 13x our 2018E EPS of $2.52. We continue to believe that despite market headwinds SPX Flow has outsized internal opportunities that if successfully executed on will provide outsized returns for investors."
Shares of SPX Flow closed at $26.28 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Checkpoint Software (CHKP) PT Raised to $94 at Stifel Following 4Q Beat
- Zayo Group Holdings (ZAYO) PT Raised to $41 at BTIG; Reiterates Buy
- JPMorgan Cuts Teva Pharma (TEVA) to Neutral Amid Challenging Generic Environment
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!