Valmont price target lowered to $298 from $334 at Stifel

Stifel analyst Nathan Jones lowered the firm’s price target on Valmont to $298 from $334 and keeps a Buy rating on the shares. The firm recently completed a survey of 50 Valley irrigation dealers and sentiment for the next 12 months again decelerated compared to three months ago, the analyst tells investors. The firm continues to see the deceleration in the next twelve months outlook as negative with farmers taking a “wait-and-see” approach near-term, the analyst added.