UPDATE: MKM Partners Downgrades Gardner Denver Corp. (GDI) to Neutral; Looking For Clarity in Energy and Management

July 20, 2012 8:38 AM EDT
Get Alerts GDI Hot Sheet
Price: $75.99 --0%

Rating Summary:
    2 Buy, 7 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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(Updated - July 20, 2012 10:54 AM EDT)

MKM Partners downgraded Gardner Denver Corp. (NYSE: GDI) from Buy to Neutral. PT cut from $62 to $54.

Analyst, Joshua Pokrzywinski, said, "We are not wholly negative on GDI’s execution potential, but believe that even on that basis, earnings are likely to decline next year as energy retrenches. We expect investors to place a discount relative to peers while they gauge continuity during the management transition period."

Pokrzywinski mentioned a draconian valuation, citing trough multiples on trough earnings. Shares look attractive on a free cash flow basis, but expect them range-bound until clarity of new leadership.

For an analyst ratings summary and ratings history on Gardner Denver Corp. click here. For more ratings news on Gardner Denver Corp. click here.

Shares of Gardner Denver Corp. closed at $49.17 yesterday.

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