DA Davidson Starts AZZ Inc. (AZZ) at Buy
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DA Davidson initiates coverage on AZZ Inc. (NYSE: AZZ) with a Buy rating and a $36 price target.
The firm calls AZZ a "niche electrical equipment & steel galvanizing services provider" that has consistently outperformed its peers and appears well positioned to benefit from increased new large orders over the next several years.
DA Davidson calls AZZ's recent decline (down from about $38 at the beginning of April) overdone, suggesting that investors should use the weakness to purchase shares of AZZ.
AZZ incorporated manufactures electrical equipment and components for power generation, transmission, and distribution, as well as for industrial markets in the United States.
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