Helios Technologies downgraded to Hold from Buy at Stifel
Stifel analyst Nathan Jones downgraded Helios Technologies to Hold from Buy with an unchanged price target of $51. The analyst cites valuation for the downgrade with the stock reaching his price target. He finds the shares appropriately valued at current levels. Further, he believes the global demand outlook may prove weaker than investors anticipate. Jones expects the recently improved China industrial and manufacturing data to fade after April numbers are released. Lower than anticipated global industrial demand driven by China leads to lower industrial demand in Europe as large portions of industrial machinery produced in Europe makes its way to China, the analyst tells investors in a research note.