Valmont price target raised to $380 from $340 at DA Davidson

DA Davidson raised the firm’s price target on Valmont (VMI) to $380 from $340 and keeps a Buy rating on the shares after its Q3 earnings beat. The company’s earnings growth could ultimately accelerate as its Agriculture segment eventually lends more momentum, though in the mean time, healthy cash flow and earnings growth is still supported by the Infrastructure segment, the analyst tells investors in a research note.