UPDATE: Jefferies & Company Reiterates Hold Rating, Lowers PT on Actuant Corporation
In a report published Wednesday, Jefferies & Company reiterated its Hold rating on Actuant Corporation (NYSE: ATU), but lowered its price target from $34.00 to $32.00.
Jefferies noted, “We checked in with ATU, updated our end-market analyses and completed channel checks of Enerpac, and we continue to believe there is good visibility on earnings growth for F13. Our forecast is below the Street and at the low end of guidance owing to some sales concerns we have over Enerpac.”
Actuant Corporation closed on Tuesday at $27.97.
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