Astec price target lowered to $41 from $59 at Stifel

Stifel lowered the firm’s price target on Astec to $41 from $59 and keeps a Buy rating on the shares after “a disappointing quarter with weaker than expected revenue and earnings setting the tone for a downbeat print.” Improving Q4 orders are “key to reversing the correction in the shares for a franchise where we do see value and notable macro tailwinds,” the analyst tells investors in a post-earnings note.