Baird analyst Michael Halloran elevated Gardner Denver Holdings to a Fresh Pick following recent meetings with CFO Todd Herndon and Vikram Kini, the Vice President of Finance, Industrials Group. Halloran, who has an Outperform rating and $38 price target on shares, tells investors in a research note that concerns over the company's ~16% year-to-date pullback are overblown and they should use the pullback in shares to own a "high-quality and improving" franchise. The analyst says upside to guidance remains achievable, despite FX headwinds and upstream headline noise, driven by a healthy industrial backdrop, continued upstream energy opportunities and significant margin expansion opportunities, and sees acquisitions as an additional upside lever.