KeyBanc, Morgan Stanley Slash Price Target On Colfax

Colfax Corp's CFX price target has been lowered to $52 (an upside of 41%) from $60 by KeyBanc analyst Jeffrey Hammond, following ESAB/Enovis's 2022 Investor Day to reflect broadly lower peer multiples.
The analyst maintained an Overweight rating on CFX shares.
Related: Colfax's Q4 Earnings
Morgan Stanley also lowered its price target on Colfax to $41 (an upside of 11%) from $45 while maintaining the Equal-Weight ratings on the shares.
Colfax recently announced the future composition of the board of the company, which will be renamed Enovis Corp., upon the consummation of the company's previously announced spin-off of its existing fabrication technology business, which will operate as ESAB Corp.
Colfax revealed an expected completion date of April 4, 2022, for the spin-off of ESAB Corp.
Price Action: CFX shares are trading higher by 1.97% at $36.77 on the last check Tuesday.