Colfax upgraded to Buy from Hold at Argus Argus upgraded Colfax to Buy to reflect on Gas & Fluid Handling segment growth and views shares as undervalued vs. potential future growth. Price target is $84.
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.