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UPDATE: Jefferies Lowers Price Target On Thermon Group On Process Capex Update

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In a report published Monday, Jefferies analyst R. Scott Graham reiterated a Buy rating on Thermon Group Holdings Inc (NYSE: THR), but lowered the price target from $28.00 to $27.00.

In the report, Jefferies noted, “Oil & Gas is the largest market served by our manufacturing companies. We track >$600B of capital spending of global O&G companies in our quarterly Process Capex report. Based on company capex budgets and inputs from Jefferies Energy Teams, we estimated 2015 O&G capex would be -8% in our Process Capex report (12/19/14). With additional budgets announced since then, we now expect spending to be -12%. We are lowering estimates on ATU, FLS, NES, NWPX and THR.”

Thermon Group closed on Friday at $21.99.

Latest Ratings for THR

DateFirmActionFromTo
Nov 2018MaintainsOutperformOutperform
Nov 2018UpgradesHoldBuy
Aug 2018MaintainsOutperformOutperform

View More Analyst Ratings for THR
View the Latest Analyst Ratings

Posted-In: Jefferies R. Scott GrahamAnalyst Color Price Target Analyst Ratings

 

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