Oppenheimer Keeps Their Buy Rating on Colfax Corp (CFX)


In a report released today, Bryan Blair from Oppenheimer maintained a Buy rating on Colfax Corp (CFX), with a price target of $32. The company’s shares opened today at $29.28.

Blair wrote:

“CFX updated 2019 guidance, reiterating its constructive outlook across legacy segments, adding higher-margin DJO to the mix, and providing an adjusted EPS range of $2.55-2.65. We continue to view the legacy business update/ outlook positively, highlighted by sustained FabTech growth and solid AGH margin progression. DJO lessens the cyclicality of the CFX portfolio, immediately bolsters margins, and should drive more predictable cash flow over time (2019 impacted by working capital adjustments). With DJO closed, we believe investor focus has shifted to CFX’s prospective AGH sale, with related proceeds a key swing factor for late- cycle leverage and stock sentiment. We anticipate a 1H19 announcement, line of sight to a cleaner 2020 story, and continued upside potential for CFX shares. Maintain Outperform.”

According to TipRanks.com, Blair is a 3-star analyst with an average return of 4.0% and a 61.8% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Carlisle Companies Incorporated, Lincoln Electric Holdings, and Watts Water Technologies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Colfax Corp with a $29.40 average price target, representing a 0.4% upside. In a report issued on March 7, Cowen & Co. also maintained a Buy rating on the stock with a $34 price target.

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The company has a one-year high of $37.05 and a one-year low of $18.95. Currently, Colfax Corp has an average volume of 2.42M.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock.

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Colfax Corp. is an industrial manufacturing and engineering company, which engages in the provision of gas and fluid handling; and fabrication technology products and services to commercial and governmental customers. The firm operates its business through the following segments Air and Gas Handling; and Fabrication Technology.