WD-40 price target lowered to $300 from $322 at DA Davidson

DA Davidson lowered the firm’s price target on WD-40 (WDFC) to $300 from $322 and keeps a Buy rating on the shares after its Q3 results and updated guidance. The company reported a “solid” quarter with accelerating growth in their biggest market, as well as bigger increases in gross margins and profits vs. the previous quarter, the analyst tells investors in a research note. The strength in Americas as well as Asia-Pacific offset a decline in EIMEA, primarily due to some timing issues with respect to customer orders in a few areas, the firm added.