- Baird analyst David Manthey downgraded Fastenal Co (NASDAQ:FAST) to Neutral from Outperform, with a price target of $48 (an upside of 1%).
- The analyst downgraded Pool Corp (NASDAQ:POOL) to Neutral from Outperform, with a price target of $398 (an upside of 8.5%).
- The analyst downgraded SiteOne Landscape Supply Inc (NYSE:SITE) to Neutral from Outperform, with a price target of $129 (an upside of 8%).
- The analyst lowered his estimates on the group to reflect deflation and the garden-variety 2023 recession.
- Manthey calls the trio the “highest-valuation stocks” in his industrial distribution coverage.
- Meanwhile, the analyst still is broadly positive on the group, with ten out of 14 stocks still rated Outperform.
- Price Action: FAST shares trading higher by 1.37% at $47.41, SITE lower by 0.82% at $119.40, and POOL lower by 0.32% at $366.74 on the last check Thursday.
‘Ford Opens New EV-Focused Assembly Plant In Germany; The Company’s Cologne Facility, Which Dates Back To 1930, Has Been Transformed By A $2B Investment From The Car Company’ – The Verge
https://www.theverge.com/2023/6/12/23757800/ford-germany-electric-vehicle-center-explorer-ev-cologneToday, Ford has opened its Cologne Electric Vehicle Center, part of the automaker's push to become an all-electric car
