Jefferies maintains a 'Hold' on Tennant Company (TNC); Growth At Pedestrian Pace in 2012-13

Jefferies maintains a 'Hold' on Tennant Company (NYSE: TNC) price target lowered from $38 to $36.

Analyst, R. Scott Graham, said, "1Q12 EPS were -8% YOY and below expectations. 2012 guidance was reiterated. But sales growth has slowed and the resultant S&A rate was quite high. We are lowering our forecasts and PT, and consider TNC fully valued...We are lowering our EPS forecasts as follows: in 2012 by $0.12 to $2.23 (below guidance); and in 2013 by $0.09 to $2.62."

For an analyst ratings summary and ratings history on Tennant Company click here. For more ratings news on Tennant Company click here.

Shares of Tennant Company closed at $42.04 yesterday.

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