UPDATE: Bank Of America Downgrades Colfax To Neutral

According to Bank of America, Colfax CFX is downgraded to Neutral. Bank of America said that it is downgrading Colfax from Buy to Neutral. “Our 2012-13 EPS estimates remain unchanged at $1.60 and $1.90, respectively. In turn, we are maintaining our price objective of $30 based on 17x (forward) P/E applied to our 2012-2013 average forecast EPS of $1.75.” Colfax closed on Friday at $25.40.