UPDATE: Stifel Nicolaus Raises PT to $175 on Valmont Industries on Quarterly Beat

Stifel Nicolaus maintained Valmont Industries

with a Buy rating and raised the price target from $161.00 to $175.00. Stifel Nicolaus said, "Valmont continued its excellent recent record delivering another quarterly beat and issuing EPS guidance high single digits above expectations (stock appreciated 5.6% on the day, maybe a little less than warranted). Valmont's USS business remains extremely strong and we forecast mid teens or better revenue growth in each of the next 2 years." Valmont Industries closed at $157.63 on Wednesday.