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Fly News Breaks for June 2, 2016
LNN
Jun 2, 2016 | 06:46 EDT
Stifel analyst Nathan Jones downgraded Lindsay to Sell and established a $64 price target on shares. The analyst's current irrigation survey indicates dealer sentiment remains negative on the outlook over the next 12 months with sales expected to be down 5%, versus his previous estimate of down 2% in FY17. Further, the Brazilian economy is in a recession and the political landscape is tumultuous, making funding for agriculture equipment difficult, and Russia, Ukraine, and China remain a risk, Jones wrote in a note.
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