KeyBanc Downgrades Colfax Corporation (CFX) to Hold; Valuation Call

October 16, 2009 8:31 AM EDT

KeyBanc downgrades Colfax Corporation (NYSE: CFX) to Hold.

KeyBanc analyst says, "We are downgrading CFX to HOLD (from BUY) following recent share price performance. We continue to like the long-term story at CFX, underpinned by its exposure to attractive end markets with solid long-term growth fundamentals and leading market share positions. That said, shares have staged a solid recovery over the past several months (up 53% since our June 26th upgrade vs. S&P 500 +19%, S&P Midcap + 23%), and we believe current valuation levels represent a less compelling entry point. Additionally, we believe that a maturing power generation cycle and lingering uncertainty regarding the timing of commercial marine deliveries (off a strong industry backlog) pose an element of earnings risk in 2010 despite what we believe is fairly healthy near-term activity."

To see more analyst ratings on CFX Click Here.

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