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Fly News Breaks for December 11, 2017
LNN, VMI
Dec 11, 2017 | 07:47 EDT
As previously reported, Stifel analyst Nathan Jones downgraded Valmont (VMI) to Hold from Buy after lowering his estimates for 2018 and 2019, primarily on lower expected irrigation revenue following surveys of the dealers of Valmont and its main competitor Lindsay (LNN). While Valmont is a strong company with good secular growth drivers, 2018 estimates look too high, argues Jones, who trimmed his price target on the stock to $174 from $177.
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