WD-40 price target lowered to $270 from $300 at DA Davidson

DA Davidson lowered the firm’s price target on WD-40 (WDFC) to $270 from $300 and keeps a Buy rating on the shares. The company reported a strong Q2 on the strength of accelerating demand in the U.S. and China while its growth margins continued to grow solidly and expenses were flat relative to sales, the analyst tells investors in a research note. The firm adds, however, that higher oil prices caused a subtle downtick in the profit outlook to “within the range” from “mid to high end” previously.