KeyBanc Capital Markets Initiates Valmont Industries Coverage: Buy, $110 PT

KeyBanc Capital Markets initiated coverage on Valmont Industries VMI with a Buy rating and $110 price target in a research report published today. In the report, KeyBanc Capital Markets states, "We believe the Company's irrigation segment will perform better than expectations, while its Utility and Coatings businesses should be able to post solid growth, even in a choppy macro environment." Shares of Valmont Industries were trading at $86.76 at the time of posting, up 3.04% from Tuesday's market close.