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AZZ cut to Sell at Stifel, as Q3 could fall short of investor expectations

Dec. 08, 2016 3:19 PM ETAZZ Inc. (AZZ) StockAZZBy: Carl Surran, SA News Editor
  • AZZ (AZZ -7.2%) is downgraded to Sell from Hold with a $57 price target, cut from $63, at Stifel, which believes shares are extended ahead of Q3 results that could miss investor expectations.
  • Stifel also thinks a continuation of AZZ's FQ2 volume challenges into Q3 will reign in investor ebullience and bring focus back to the next 12-month outlook, driving multiple compression; combined with what it anticipates will be downward revisions to earnings, the firm sees meaningful downside to shares at current levels.

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