DA Davidson analyst Brent Thielman upgraded Valmont to Buy from Neutral with a price target of $290, up from $230. The firm sees estimates as at or near the end of a downward revision cycle after “a tough 2023” with better catalysts ahead supported, at least in part, by recent evidence of resiliency in utility capex initiatives, indications of elevated government highway spending and some signs of agricultural demand stability, the analyst tells investors.
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