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UPDATE: Jefferies Reduces PT to $36 on Tennant Company; Q1 Miss

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Jefferies cuts its price target from $38 to $36 on Hold-rated Tennant Company (NYSE: TNC) following miss for Q1.

Jefferies notes, "1Q12 EPS were -8% YOY and below expectations. 2012 guidance was reiterated. But sales growth has slowed and the resultant S&A rate was quite high. We are lowering our forecasts and PT, and consider TNC fully valued."

TNC closed at $42.04 on Monday.

Posted-In: JefferiesAnalyst Color Price Target Reiteration Pre-Market Outlook Analyst Ratings

 

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