Donaldson upgraded to Buy from Hold at Jefferies

Jefferies upgraded Donaldson (DCI) to Buy from Hold with a price target of $120, up from $92. The shares have rallied on signs of a turn in the mining and non-residential construction markets, the analyst tells investors in a research note. The firm sees confirmation of a turn helping the shares into mid-2026. Donaldson benefits from a more favorable credit environment and fiscal stimulus lifting the gas turbine, industrial and truck markets, contends Jefferies.