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Valmont Industries (VMI)
by Zacks Equity ResearchSeptember 12, 2012 | Comments : 0 Recommended this article: (0)
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Valmont is witnessing significant strength in the irrigation market and improving demand for its utility transmission structure. The company expects to post double-digit earnings growth in 2012 despite the European slowdown. The outlook for irrigation equipment is strong while demand for Utility Support Structures is expected to rise.
Healthy order activity and a growing backlog support expectations for a strong 2012. Our long-term Outperform recommendation indicates that it would exceed the broader market. Our price target of $153 is based on 18.3x our fiscal 2012 earnings estimate.
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