Valmont Industries (VMI) PT Raised to $450 at DA Davidson as Momentum in Infrastructure to Continue

DA Davidson analyst Brent Thielman raised the price target on Valmont Industries (NYSE: VMI) to $450.00 (from $415.00) while maintaining a Neutral rating.

The analyst commented, "Overall lingering challenges in Ag. partially offset strong momentum in Infrastructure (especially Utility), the latter which should continue. We still tend to view more material NT upside prospects in estimates (and share price, from here) as more aligned with potential for a broader recovery in Ag. Arguably we've seen a deep down cycle already, although still somewhat limited evidence of any immediate/ sustainable recovery in equipment capital investment. Remain NEUTRAL."

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