William Blair Bullish on Filtration, Water Management Following Trump Victory (LNN) (VMI)
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Analyst Brian Drab said,
An increased focus on infrastructure investment in the United States following the results of the U.S. presidential and congressional elections could increase demand for infrastructure products from Lindsay and Valmont. We estimate about 35%-40% of Valmont’s sales and 30%-35% of Valmont’s operating profits are tied to U.S. domestic infrastructure. We estimate about 10% of Lindsay’s sales and about 15%-20% of Lindsay’s operating profits are tied to U.S. domestic infrastructure. Shares of Valmont were up 7% today and shares of Lindsay increased 2% in response to the election results.
The firm rates Lindsay Corp. and Valmont both at Market Perform.
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