As previously reported, CL King initiated coverage of Tennant with a Buy rating and $112 price target. The “world leader” in the design, manufacture and marketing of floor cleaning equipment is an “underappreciated story with increasing momentum,” the analyst tells investors. The firm, which likes Tennant’s strong global market share position and “innovative nature,” is setting its FY23 revenue and adjusted EPS estimates at $1.243B and $5.92, respectively, and notes that the shares are currently trading at a “meaningful discount to our constructed peer group.”
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Read More on TNC:
- Tennant appoints Brock Christianson as chief human resources officer
- Tennant upgraded to Outperform from Market Perform at CJS Securities
- Tennant raises FY23 adjusted EPS view to $5.70-$6.10 from $5.10-$5.75
- Tennant reports Q3 EPS $1.34, consensus $1.15
- Tennant raises quarterly dividend 5.7% to 28c per share
