Market Overview

UPDATE: Wedbush Initiates Valmont Industries at Neutral on Limited Upside

Related VMI
S&P 500 Closes Above 2,000; Dow Hits New All-Time High As Markets Continue To Rally
Earnings Scheduled For July 17, 2014

Wedbush initiated coverage on Valmont Industries (NYSE: VMI) with a Neutral rating and a $160.00 price target.

Wedbush said, "We believe Valmont offers an attractive way for investors to participate in the strong environment for irrigation and the healthy long-term outlook for infrastructure investment in power transmission, distribution, and transportation. However, given the appreciation in share price over the last 12 months (46.8% vs. 17.2% for the S&P Midcap) and, in our view, the modest potential upside, we would suggest investors look for weakness as a buying opportunity."

Valmont Industries closed at $143.07 on Tuesday.

Posted-In: WedbushAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

Related Articles (VMI)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters