Lindsay Corp's Demand Forecast Looks Grim For Fall Season: Analyst Highlights Dealer Issues
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Stifel analyst Nathan Jones has downgraded Lindsay Corporation (NYSE:LNN) to Hold from Buy, lowering the price target to $135 from $146. This follows a survey of Lindsay's domestic irrigation dealers, which revealed a grim demand forecast for the fall season. Dealers reported a 1.9% drop in domestic volume and a 0.9% price increase over the past three months. They also do not anticipate any significant ramp in spending post-harvest due to market uncertainties. LNN shares are trading lower by 10.58% to $114.30.
September 15, 2023 | 5:33 pm
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Lindsay Corporation's stock has been downgraded by Stifel analyst Nathan Jones, with a lowered price target of $135 from $146. This is due to a grim demand forecast for the fall season, as revealed by a survey of Lindsay's domestic irrigation dealers. LNN shares are currently trading lower by 10.58% to $114.30.
The downgrade by Stifel analyst Nathan Jones is based on a survey of Lindsay's domestic irrigation dealers, which revealed a grim demand forecast for the fall season. This has led to a decrease in the price target for LNN shares, which are currently trading lower. The lack of anticipated spending post-harvest due to market uncertainties also contributes to the negative outlook for LNN.
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