UPDATE: Bank of America Upgrades Donaldson Company to Buy on Healthy Growth Outlook
Bank of America upgraded Donaldson Company (NYSE: DCI) from Neutral to Buy and raised the price objective from $38.00 to $41.00.
Bank of America noted, "We upgrade DCI from Neutral to Buy, as we expect the company's growth to accelerate in the second half of FY13 (ending July) into the next year. We also view the stock as an attractive long-term investment given its premium returns & execution, and a healthy growth story of market share gain (in after-market and liquid filtration) & portfolio shift to higher-margin after-market business."
Donaldson Company closed at $34.68 on Wednesday.
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