LNN - Lindsay Corp's Demand Forecast Looks Grim For Fall Season: Analyst Highlights Dealer Issues | Benzinga
Stifel analyst Nathan Jones downgraded Lindsay Corporation (NYSE: LNN) to Hold from Buy, lowering the price target to $135 from $146.
Jones recently completed a Proprietary Irrigation Survey of 50 of Lindsay's domestic irrigation dealers, following which volumes are now expected to be -0.8% vs. -0.7% over the next 12 months.
Dealers reported domestic volume down 1.9%, with prices up 0.9% over the past three months, the analyst adds.
In the next three months, volume is expected to be down 0.1% y/y.
Dealers expect volume over the next ...