Lindsay price target lowered to $122 from $136 at Stifel

Stifel lowered the firm’s price target on Lindsay to $122 from $136 and keeps a Hold rating on the shares. The firm recently completed a survey of 49 of Lindsay’s domestic irrigation dealers and network sentiment was more pessimistic compared to the firm’ prior survey, with volume now expected to be down 2.7% over the next 12 months, versus down 1.5% previously, the analyst tells investors. The firm is reducing estimates based on its survey work.