UPDATE: Stifel Upgrades Valmont Industries (VMI) to Buy
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Stifel analyst Nathan Jones upgraded Valmont Industries (NYSE: VMI) from Hold to Buy with a price target of $144.00 (from $128.00).
The analyst comments "In conjunction with our quarterly irrigation survey, we are raising our rating to Buy on VMI shares with a $144 target price. Over the last month, we have increased confidence that the execution issues from 2H19 are behind the company, USS and ESS demand remains strong, Coatings bottoms in 2Q20 and recovers, while the Irrigation outlook is soft but better than feared. Price/cost should be positive with steel and zinc prices low."
Shares of Valmont Industries closed at $113.74 yesterday.
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