B. Riley analyst Alex Rygiel raised the firm’s price target on L.B. Foster to $18 from $14 and keeps a Neutral rating on the shares. The company reported solid Q2 results and management’s strategic actions to optimize its portfolio are taking shape, leading to sales growth and margin expansion, the analyst tells investors in a research note. The firm keeps a Neutral rating on the shares due to valuation following the recent rally.
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Read More on FSTR:
- L.B. Foster to Present at Sidoti Conference; Updated Corporate Investor Presentation Posted Online
- Increasing Momentum Evident in L.B. Foster’s Second Quarter Operating Results; Company Increases 2023 Profitability Guidance
- L.B. Foster sees 2023 net sales $520M-$550M, consensus $536.5M
- L.B. Foster reports Q2 EPS 32c vs. 18c last year
- L.B. Foster Company to Report Second Quarter 2023 Operating Results on August 8, 2023