UPDATE: Jefferies Lowers PT on The Gorman-Rupp Company from $35 to $34

Jefferies reiterated a Buy rating on The Gorman-Rupp Company GRC and lowered its price target from $35 to $34. Jefferies noted, “We are lowering our EPS estimates on 5 stocks FLS, HSC, AIMC, ATU and GRC. These have larger exposures to Europe and have yet to report. We expect the weakness in the Euro over the last month to more adversely affect earnings and guidance than our prior view. We have seen this read through in earnings reports this week. We have not changed our ratings on these stocks.” The Gorman-Rupp Company closed at $30.02 on Thursday.