Colfax (CFX -4%) slips on a Deutsche Bank downgrade from Buy to Hold on valuation as it...


Colfax (CFX -4%) slips on a Deutsche Bank downgrade from Buy to Hold on valuation as it approaches the firm's $54 price target. Deutsche says that it still sees more upside potential for the shares, but cautions that it carries the most exposure to higher growth/emerging markets within its coverage universe, and a lack of improvement in emerging markets could, at minimum, delay prospective volume recovery in the company's short cycle welding business and limit earnings upside in the near term.

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