Baird Reiterates Outperform Rating on Donaldson (DCI)

Donaldson Company (NYSE:DCI) is one of the 15 best Industrial Machinery and Supplies stocks to buy according to Hedge Funds.

On February 2, Baird analyst Robert Mason maintained his Outperform rating on Donaldson Company (NYSE:DCI), and also raised his price target on the stock from $100 to $110. His rating and price target revision came after the company’s announcement of its CEO transition, with current COO Richard Lewis set to replace Tod Carpenter, who is retiring.

Back on January 9, Jefferies also upgraded its rating on Donaldson Company (NYSE:DCI) from Hold to Buy. Moreover, the firm adjusted its price target from $92 to $120, implying an upside of nearly 19%. Such bullish revisions were based on recovery indicators witnessed across mining and non-residential construction markets. Going forward, Jefferies expects a favorable credit environment along with fiscal stimulus that will be a catalyst for the company’s gas turbine, industrial, and truck markets.

Donaldson Company (NYSE:DCI) produces and sells technology-led filtration systems and replacement parts across the globe. The business is trifurcated into Mobile Solutions, Industrial Solutions, and Life Sciences segments, and serves various markets including agriculture, defense, and manufacturing. Its offerings include air filtration, hydraulic and emissions systems, sensors, air inlet systems, ancillary components, and replacement parts.

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Disclosure: None. This article is originally published at Insider Monkey.