Stifel Downgrades Valmont Industries (VMI) to Hold
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Stifel analyst Nathan Jones downgraded Valmont Industries (NYSE: VMI) from Buy to Hold with a price target of $137.00 (from $168.00).
The analyst comments "Our positive thesis on VMI shares included multiple aspects that Valmont has not delivered and we no longer see a clear path to them delivering these results in 2020, as well as operational challenges in several businesses which we had not anticipated and increase the uncertainty in Valmont's results going forward:"
Shares of Valmont Industries closed at $134.68 yesterday.
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