Colfax Corporation (CFX) PT Lowered to $30 at Cowen

Cowen analyst Joseph Giordano lowered the price target on Colfax Corporation (NYSE: CFX) to $30.00 (from $40.00) while maintaining a Outperform rating.

Giordano commented, "Shares reacted harshly to the Nov 19 announcement of the $3+B transformative DJO acquisition that gives CFX a new healthcare platform. With details emerging on the transaction financing (scant initially), we see a case for 50% upside using pro forma full year 2019 estimates. PT to $30 on pro forma 2019 sum of the parts analysis (~10x pro forma 2019E EV/EBITDA)."

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