Wedbush Upgrades Lindsay Corporation (LNN) to Neutral; Expect Volatility, but Long-Term Outlook Remains Encouraging
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Price: $115.07 +0.42%
Rating Summary:
4 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wedbush upgraded Lindsay Corporation (NYSE: LNN) from Underperform to Neutral. PT $65.
Wedbush analyst says, "Downward risk still possible, but long-term outlook remains encouraging. Given the recent pullback in shares — some -18.5% vs. -1.7% for the Russell 2000 since February 18 — we believe that at current levels the shares, while fully valued, no longer appear egregiously overvalued, particularly in light of the favorable longterm fundamentals and our forecasts for 2012.
For more ratings news on Lindsay Corporation click here and for the rating history of Lindsay Corporation click here.
Shares of Lindsay Corporation closed at $62.54 yesterday.
Wedbush analyst says, "Downward risk still possible, but long-term outlook remains encouraging. Given the recent pullback in shares — some -18.5% vs. -1.7% for the Russell 2000 since February 18 — we believe that at current levels the shares, while fully valued, no longer appear egregiously overvalued, particularly in light of the favorable longterm fundamentals and our forecasts for 2012.
For more ratings news on Lindsay Corporation click here and for the rating history of Lindsay Corporation click here.
Shares of Lindsay Corporation closed at $62.54 yesterday.
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