Cowen Upgrades Colfax Corporation (CFX) to Outperform

Cowen analyst Joseph Giordano upgraded Colfax Corporation (NYSE: CFX) from Market Perform to Outperform with a price target of $40.00 (from $34.00).

The analyst comments "Orders stabilized in Power and inflecting higher elsewhere. Rev growth to accelerate through 2020 with margin recovery as restructuring savings are realized and weak backlog is bled out. We are now +15% vs. Street on FY19 EPS with nearly 15% CAGR through 2020. See ~20% upside to model should mgmt hit FY21 targets. ~30% share upside at 16x FY19 FCF multiple with downside risk in mid to high $20s."

For an analyst ratings summary and ratings history on Colfax Corporation click here. For more ratings news on Colfax Corporation click here.

Shares of Colfax Corporation closed at $31.53 yesterday.

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