Zacks Investment Research downgraded shares of Colfax Corporation (CFX) from NEUTRAL to UNDERPERFORM on January 06, 2015, with a target price of $45.00.
Despite promising long-term growth prospects, Colfax is exposed to certain headwinds that can impair its performance in the near term. Uncertain economic conditions will affect the company's organic growth, projected to range from flat to down 2% in 2015. Also, falling oil prices will adversely impact the company's revenues from the oil and gas industry, while unfavorable foreign currency movements will lower revenues by $180-$190 million. Total revenue is expected to be roughly $4.525-$4.675 billion, lower than $4.675-$4.725 billion predicted for 2014. Considering these factors, we currently downgrade our recommendation on Colfax to Underperform from Neutral.
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