- RBC Capital analyst Deane Dray lowered Enerpac Tool Group Corp's EPAC price target to $22 (implying an upside of 5%) from $26 and maintained a Sector Perform rating on the shares.
- Dray cites the company's Q4 earnings miss driven by supply chain issues, cost pressures, and COVID disruptions, along with its "abrupt" CEO departure announcement.
- He adds that the stock has lagged year-to-date and should remain in a "holding pattern" until the new CEO "sets a new course."
- Wells Fargo analyst Michael Mcginn lowered the price target to $20 (implying a downside of 4.6%) from $22 and maintained an Underweight rating on the shares.
- Price Action: EPAC shares are trading lower by 3.60% at $20.9 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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