KeyBanc Upgrades Colfax Corporation (CFX) to Buy

KeyBanc upgraded Colfax Corporation (NYSE: CFX) from Hold to Buy with a price target of $28, saying they like the Charter International plc deal and the weakness creates a buying opportunity.

The firm comments, "We view the deal favorably following a review of the recommended deal terms, which adds meaningful earnings power to the franchise and elevates CFX into a multi- platform, multi-billion dollar enterprise. We believe the deal is a great fit, with the Howden segment nicely complementing and extending CFX's existing business, with ESAB providing a new growth platform. CFX's strong management team and financial backing from CFX insiders, DBT Capital (a private equity firm), and existing shareholders, ups our confidence that management can successfully navigate a deal of this size and scale, while creating substantial shareholder value in the process."

For more ratings news on Colfax Corporation click here and for the rating history of Colfax Corporation click here.

Shares of Colfax Corporation closed at $23.04 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• ​Trump said he was unaware of his earnings from crypto
• Isabella Bank added to Russell 2000 index after Nasdaq listing
• Lockheed Martin frontrunner for $3.5B Ultra Maritime deal, sources say - FT