Vontier downgraded to Hold at Argus on lowered estimates

As previously reported, Argus downgraded Vontier to Hold from Buy. While the firm has a “favorable view of Vontier’s recent acquisitions and new products,” demand is likely to be soft this year as customers hold off on their investments in EV charging amid the upcoming U.S. elections and higher interest rates and macroeconomic uncertainty impact sales in other end markets, the analyst tells investors. Management recently lowered its 2024 EPS, revenue and cash flow guidance and the firm is “again” lowering its 2024 EPS estimate as well as lowering its 2025 EPS estimate.