Alamo Group (ALG) PT Lowered to $225 at DA Davidson

DA Davidson analyst Michael Shilsky lowered the price target on Alamo Group (NYSE: ALG) to $225.00 (from $235.00) while maintaining a Buy rating.

The analyst commented: "We are maintaining our BUY rating on ALG, with a new price target of $225 (from $235) following 1Q:24 earnings. We got the sense that Vegetation conditions have deteriorated somewhat, though 2Q order trends will be the most important clue on the rest of the year. At the same time, Industrial conditions, which have been quite strong for over two years, continue to improve and impress. The longer-term developing story is unchanged: ALG continues to close the margin gap vs. its core peers, and the re-rating is expected to continue. There is quite a bit more to go, so we advise staying along for the ride."

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