Welbilt (WBT) Checks Appear Light, Longbow Remains Below Consensus

Longbow Research analyst, David MacGregor, reiterated his Buy rating on shares of Welbilt, Inc. (NYSE: WBT) after dealer checks indicate that general market trends remain subdued.

The analyst offered 5 key takeaways:

1) 4Q sequential deceleration of growth trends in the general market (72% of revenue) while key account/QSR growth (28% of revenue) remains strong

2) The typical seasonal pattern of 4Q discounting was down y/y

3) MIDD moved forward with a MSD price increase January 1 while WBT will follow at the end of March

4) Supply challenges continued on the cold-side but improved sequentially vs. 3Q

5) Contacts’ outlook for 1Q19 were largely positive

No change to the price target of $16.

For an analyst ratings summary and ratings history on Welbilt, Inc. click here. For more ratings news on Welbilt, Inc. click here.

Shares of Welbilt, Inc. closed at $12.39 yesterday.

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