KeyBanc Raises Price Target on Valmont Industries (VMI), Encourages Investors to Buy
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Price: $495.25 --0%
Rating Summary:
9 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 9 | New: 12
Rating Summary:
9 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 9 | New: 12
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KeyBanc is reaffirming its Buy rating on shares of Valmont Industries (NYSE: VMI) while raising its price target from $105 to $110.
The firm reports it has raised its estimates on VMI following the company's positive announcement it has reorganized the legal entity structure of its Delta businesses and based on Lindsay’s (NYSE: LNN) November quarter earnings results.
KeyBanc notes the reorganization allows the company to "utilize tax-losses arising from the historic Delta businesses in the quarter and capture operational benefits,"..."We encourage investors to accumulate shares of VMI, a dominant infrastructure provider with an impressive management team, trading near trough valuations."
To go inline with market trends and the company's recent announcements, KeyBanc has increased its Q4 and FY11 EPS estimates from $1.52 and $5.79 to $1.68 and $5.95. For FY12, the firm is now forecasting EPS of $6.90, much higher than its previous estimate of $6.53.
For an analyst ratings summary and ratings history on Valmont Industries click here. For more ratings news on Valmont Industries click here.
Shares of Valmont Industries closed at $90.52 yesterday.
The firm reports it has raised its estimates on VMI following the company's positive announcement it has reorganized the legal entity structure of its Delta businesses and based on Lindsay’s (NYSE: LNN) November quarter earnings results.
KeyBanc notes the reorganization allows the company to "utilize tax-losses arising from the historic Delta businesses in the quarter and capture operational benefits,"..."We encourage investors to accumulate shares of VMI, a dominant infrastructure provider with an impressive management team, trading near trough valuations."
To go inline with market trends and the company's recent announcements, KeyBanc has increased its Q4 and FY11 EPS estimates from $1.52 and $5.79 to $1.68 and $5.95. For FY12, the firm is now forecasting EPS of $6.90, much higher than its previous estimate of $6.53.
For an analyst ratings summary and ratings history on Valmont Industries click here. For more ratings news on Valmont Industries click here.
Shares of Valmont Industries closed at $90.52 yesterday.
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