DMC Global price target lowered to $17 from $19 at Stifel

Stifel lowered the firm’s price target on DMC Global (BOOM) to $17 from $19 and keeps a Buy rating on the shares. The firm notes that Steel Connect (STCN) has attempted to engage with DMC Global, reiterating its intent to acquire all of the remaining shares of DMC that it does not already own for $16.50 per share in cash. Since the original proposal, DMC’s shares have fallen roughly 18% and the offer is now a 51% premium to the previous close compared to a 22% premium from its average 30-day trailing closing price as of June 17.