Stifel analyst Stephen Gengaro lowered the firm’s price target on DMC Global (BOOM) to $8.50 from $9 and keeps a Hold rating on the shares after the company reported stronger-than-anticipated Q1 results and announced in-line Q2 guidance. Management appears to be making solid progress on optimization initiatives, but the firm trimmed its target to reflect anticipated margin headwinds and a tempered outlook for U.S. land activity, the analyst tells investors.
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