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UPDATE: Credit Suisse Downgrades Douglas Dynamics on Valuation

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In a report published Wednesday, Credit Suisse analyst Hamzah Mazari downgraded the rating on Douglas Dynamics (NYSE: PLOW) from Neutral to Underperform, but reiterated the $14.00 price target.

In the report, Credit Suisse noted, “Downgrading PLOW shares based on valuation and lower dividend growth driven by unit sales running below normalized levels. We do not see short-term catalysts for the stock and although we view the dividend as safe growth is likely to be relatively muted We are revising our 2013 EPS to $0.51 (from $0.48) and our 2014 EPS estimate to $0.70 (from $0.74) to account for updated guidance combined with a slower ramp in activity levels.”

Douglas Dynamics closed on Tuesday at $14.72.

Latest Ratings for PLOW

DateFirmActionFromTo
Apr 2016Seaport GlobalInitiates Coverage onNeutral
Mar 2016Sidoti & Co.Initiates Coverage onBuy
Sep 2014BairdDowngradesOutperformNeutral

View More Analyst Ratings for PLOW
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Posted-In: Credit Suisse Hamzah MazariAnalyst Color Downgrades Analyst Ratings

 

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