Columbus McKinnon price target raised to $20 from $15 at DA Davidson

DA Davidson raised the firm’s price target on Columbus McKinnon (CMCO) to $20 from $15 and keeps a Neutral rating on the shares. The firm is adjusting its model to fully capture all material P&L and other impacts associated with last week’s closure of the Kito Crosby acquisition as well as the anticipated impact from the pending divestiture of the company’s U.S. power chain hoist and chain manufacturing operations, the analyst tells investors in a research note.