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UPDATE: Citigroup Downgrades Actuant Corporation to Neutral on Risk/Reward Outlook

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Earnings Scheduled For December 17, 2015

Citigroup reduces its rating on Actuant Corporation (NYSE: ATU) from Buy to Neutral and lowers its price target from $33 to $29.

Citigroup comments, "We are downgrading shares of ATU from Buy to Neutral based on its 35% revenue exposure to Europe, as well as our shift in sector view from Attractive to Neutral. We believe the looming macro headwinds in Europe present the greatest risk to Actuant and the Multi-Industry sector in 2H12. Actuant has managed to sidestep the brunt of these headwinds so far, posting positive organic growth in the region in 3Q12 (May). However, underscoring our growing concern has been recent commentary from a handful of sector peers about Europe's deteriorating operating environment. While ATU's low relative valuation to small-cap peers arguably discounts these risks, we believe this is not the optimal time to recommend the shares."

ATU closed at $25.81 on Wednesday.

Latest Ratings for ATU

DateFirmActionFromTo
Jan 2016Avondale PartnersInitiates Coverage onMarket Perform
Dec 2015BarclaysMaintainsEqual-weight
Nov 2015SunTrust Robinson HumphreyInitiates Coverage onBuy

View More Analyst Ratings for ATU
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Downgrades Price Target Intraday Update Analyst Ratings

 

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