Valmont upgraded to Outperform from Market Perform at William Blair

William Blair upgraded Valmont (VMI) to Outperform from Market Perform. On the earnings call, management made it clear that Valmont product made in Mexico with steel sourced from the United States would not be subject to the 25% tariff under the current rules, the analyst tells investors in a research note. The firm says this development, combined with actions management is taking to mitigate the impact of tariffs, has led the company to expect a negligible impact to earnings from tariffs in 2025. As such, Blair upgraded Valmont following its downgrade several weeks ago on tariff uncertainty.