DCI - Donaldson: Upgrading To Buy After Solid Q2 Earnings Report
2024-03-05 21:03:35 ET
Summary
- Recent bullish action in Donaldson Company supports a price target of $90 per share.
- The company's strong fundamentals across all three segments indicate potential for further share price gains.
- Donaldson's margin strength and ability to protect bottom-line earnings gives it a competitive advantage.
Intro
We wrote about Donaldson Company, Inc. ( DCI ) (Specialty Industrial Machinery) in September of last year when we implied that any sustained downward in the stock would not gain significant traction to the downside. Given that a bearish decline in the stock was in motion at the time, we rated Donaldson a 'Hold' until further developments. With shares trading at just above $62 a share at the time, the downtrend did indeed continue until late October, when shares finally bottomed just above $57 a share. Since then, shares have entered rally mode, tacking on approximately $15 a share or 25%+ which sees shares currently trading above $72 a share....
Donaldson: Upgrading To Buy After Solid Q2 Earnings Report