Columbus McKinnon price target raised to $50 from $48 at DA Davidson

DA Davidson raised the firm’s price target on Columbus McKinnon to $50 from $48 and keeps a Buy rating on the shares. While there was some noted hesitancy within industrial capex spend, the company’s demand fundamentals overall appear healthy net of further normalization in customer ordering patterns, the analyst tells investors in a research note. The firm adds that Columbus McKinnon backlog remains strong and its go-forward quotation activity looks encouraging.