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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BOOM: