In a report published Tuesday, Bank of America analyst Andrew Obin downgraded the rating on Donaldson Company DCI from Buy to Underperform, and raised the price target from $41.00 to $42.00.
In the report, Bank of America noted, “As DCI approaches our PO of $41, we downgrade the stock from Buy to Underperform. Based on our above-consensus EPS, DCI stands out as one of the most expensive names in our coverage, despite having below-average EPS growth over the next two years. Although we view Donaldson as an excellent company, and we expect investors to continue paying a premium multiple for the more stable, high-quality industrial name in the uncertain macro environment, we see more risk than upside to the stock at the current trading level near-term.”
Donaldson Company closed on Monday at $40.43.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in