Friday, KeyBanc Capital downgraded Colfax Corp. (CFX) shares to Hold from Buy.
Analyst Jeffrey Hammond downgraded the stock following recent share price performance. The analyst continues to like the long-term story at CFX, underpinned by its exposure to attractive end markets with solid long-term growth fundamentals and leading market share positions.
That said, shares have staged a solid recovery over the past several months, up 53% since the analyst's June 26 upgrade vs. S&P 500 +19%, S&P Midcap + 23%, and he believes current valuation levels represent a less compelling entry point.
Additionally, the analyst believes that a maturing power generation cycle and lingering uncertainty regarding the timing of commercial marine deliveries, off a strong industry backlog, pose an element of earnings risk in 2010 despite what he believes is fairly healthy near-term activity.
The analyst believes CFX's current backlog and order momentum, excluding cancellations in Commercial Marine, should position the company for a solid second half of 2009. However, the analyst would look for greater visibility into 2010 before becoming more constructive. As a result, the analyst believes shares will remain range-bound from here pending further clarity and downgraded the stock to Hold.
Currently, CFX is down $0.33 or 2.75% and trading at $11.67.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.