Valmont price target raised to $300 from $275 at DA Davidson

DA Davidson raised the firm’s price target on Valmont to $300 from $275 and keeps a Buy rating on the shares. The company’s Q1 results were solidly ahead of estimates on strong margins, while the management noted more optimistic signs in Ag business this year, the analyst tells investors in a research note. The firm adds that with the shares still trading below long-term averages and given the company’s good leverage to attractive market verticals – utility spending and infrastructure bidding activity – it “sees appeal” with Valmont shares.