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UPDATE: Credit Suisse Downgrades Gardner Denver to Underperform on Acquisition by KKR

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In a report published Wednesday, Credit Suisse analyst Julian Mitchell downgraded the rating on Gardner Denver (NYSE: GDI) from Outperform to Underperform, but slightly raised the price target from $75.00 to $76.00.

In the report, Mitchell noted, “Given that the acquisition by KKR appears to be on track, and it is unlikely that a bidding war develops, we believe an Underperform rating is now more appropriate. Our price target moves to the offer price of $76 per share (from $75). We are revising our 2013/2014/2015 EPS estimates to $5.90/$5.42/$5.96 (from $5.53/$5.67/$6.20) respectively.”

Gardner Denver closed on Tuesday at $75.17.

Latest Ratings for GDI

DateFirmActionFromTo
Jun 2017Tigress FinancialInitiates Coverage OnBuy
Jun 2017William BlairInitiates Coverage OnOutperform
Jun 2017Goldman SachsInitiates Coverage OnBuy

View More Analyst Ratings for GDI
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Downgrades Analyst Ratings

 

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