Scotiabank downgrades Linamar to Sector Perform on lack of catalysts

Scotiabank last night downgraded Linamar (LIMAF) to Sector Perform from Outperform with a price target of C$77, down from C$86. The “story is looking increasingly catalyst-lite,” the analyst tells investors in a research note. The firm says that beyond auto headwinds, its confidence in the agriculture outlook has waned with tractor declines accelerating in Q3.