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UPDATE: Jefferies Lowers Price Target On Northwest Pipe Company On Process Capex Update

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In a report published Monday, Jefferies analyst R. Scott Graham reiterated a Hold rating on Northwest Pipe Company (NASDAQ: NWPX), but lowered the price target from $31.00 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.”

Northwest Pipe Company closed on Friday at $26.56.

Latest Ratings for NWPX

DateFirmActionFromTo
Nov 2019DA DavidsonMaintainsBuy
Sep 2019Northland Capital MarketsInitiates Coverage OnOutperform
Feb 2016JefferiesMaintainsHold

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

Latest Ratings

StockFirmActionPT
FSRMorgan StanleyMaintains40.0
NATJefferiesMaintains2.8
MEDDA DavidsonMaintains302.0
VICRBWS FinancialMaintains120.0
PSXMizuhoMaintains96.0
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