EVI Industries price target raised to $33 from $28 at DA Davidson

DA Davidson analyst Michael Shlisky raised the firm’s price target on EVI Industries (EVI) to $33 from $28 and keeps a Buy rating on the shares after its Q2 results last week. The firm estimates that organic revenue growth was mid-to-high single-digits – not far off from the company’s long-term CAGR – with backlogs also up 10% y/y organically, the analyst tells investors in a research note. EVI Industries also noted that the Continental, Girbau, acquisition has been a success thus far, exceeding expectations, the firm added.