Wedbush Upgrades Lindsay Corporation (LNN) to Outperform; Favorable Backdrop for Irrigation Continues To Provide Positive Surprise
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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 Neutral to Outperform with a price target of $65.00.
Wedbush analyst says, "A stronger backdrop for global agriculture and demands for more efficient irrigation systems helped drive a 68% increase in irrigation sales (intl +71%), exceeding our estimates. Though U.S. irrigation sales may be subject to uncertainty, the underlying drivers for FY2012 and beyond remain intact. Given the better than expected results and pullback in shares, we believe the risk/reward tradeoff is sufficiently attractive."
For an analyst ratings summary and ratings history on Lindsay Corporation click here. For more ratings news on Lindsay Corporation click here.
Shares of Lindsay Corporation closed at $52.50 yesterday.
Wedbush analyst says, "A stronger backdrop for global agriculture and demands for more efficient irrigation systems helped drive a 68% increase in irrigation sales (intl +71%), exceeding our estimates. Though U.S. irrigation sales may be subject to uncertainty, the underlying drivers for FY2012 and beyond remain intact. Given the better than expected results and pullback in shares, we believe the risk/reward tradeoff is sufficiently attractive."
For an analyst ratings summary and ratings history on Lindsay Corporation click here. For more ratings news on Lindsay Corporation click here.
Shares of Lindsay Corporation closed at $52.50 yesterday.
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