Mayville Engineering price target lowered to $16 from $18 at Citi

Citi lowered the firm’s price target on Mayville Engineering (MEC) to $16 from $18 and keeps a Buy rating on the shares. As part of a Q1 preview for the U.S. electrical equipment and industrial conglomerates, Citi says it believes the Trump Administration’s protectionist platform should “reboot” the group’s secular tailwinds over time. As such, the firm sees “value developing” across the multis. The sector’s Q1 orders and earnings “mostly should be fine,” the analyst tells investors in a research note.