UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on Titan International
In a report published Friday, Jefferies & Company reiterated its Buy rating on Titan International (NYSE: TWI), and raised its price target from $25.00 to $27.00.
Jefferies noted, “We see more downside than upside risk in 4Q machinery earnings, and we continue to recommend a defensive short-term stance. Extended production shutdowns and inventory destocking has been prevalent through the quarter and into 2013. We are generally below consensus in the near term and worry that stocks appear overbought +10+% vs the S&P500 since the October lows despite no material improvement in fundamentals.”
Titan International closed on Thursday at $23.42.
Latest Ratings for TWI
|Nov 2015||Goldman Sachs||Downgrades||Neutral||Sell|
|Oct 2015||Avondale Partners||Initiates Coverage on||Market Perform|
|May 2015||Goldman Sachs||Initiates Coverage on||Neutral|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.