D.A. Davidson maintained its Layne Christensen (NASDAQ:

) Neutral rating and lowered its price target from $23 to $22 in a research report published today. In the report, D.A. Davidson stated, "We are slightly reducing our target on LAYN shares to $22 from $23, reflecting our lower earnings expectations as well as broader pressures on equity valuation levels. We continue to rate the shares NEUTRAL." Shares of Layne Christensen closed today at $19.22, up 3.33% from Monday's market close.