UPDATE: Jefferies Lowers Price Target On Northwest Pipe Company On Process Capex Update
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
Date | Firm | Action | From | To |
---|---|---|---|---|
Nov 2019 | DA Davidson | Maintains | Buy | |
Sep 2019 | Northland Capital Markets | Initiates Coverage On | Outperform | |
Feb 2016 | Jefferies | Maintains | Hold |
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