Colfax upgraded to Accumulate from Neutral at Global Hunter Global Hunter upgraded Colfax based on recent trends that indicate North American fabrication welding is improving despite weakness in January and February. Price target raised to $80 from $55.
Colfax reports Q1 adjusted EPS 36c, consensus 33c Reports Q1 revenue $911.1M, consensus $957.82M. First quarter gas- and fluid-handling orders decreased by 23.4% to $446.9M. Gas- and fluid-handling finished the period with backlog of $1.35B.