Lindsay Corporation (LNN): Shares define bullish 'flag'

Filed under: Earnings reports, Analyst upgrades and downgrades, Technical Analysis, Stocks to Buy

Lindsay Corporation (NYSE: LNN) manufactures automated agricultural irrigation systems. Offerings include center pivot and lateral move systems, as well as hose reel travelers and mini-pivots. The firm also makes chemical injection systems, remote monitoring products and irrigation controls. Lindsay's systems are sold through a worldwide network of dealers to farmers in more than 90 countries. Wholly owned Lindsay subsidiaries make movable barriers for traffic management and crash cushions for improved highway safety.

The company pleased investors earlier in the month, when it reported fiscal Q2 EPS of 79 cents and revenues of $108.4 million. The Street had been expecting 47 cents and $83.4 million. The CEO noted, "With the current USDA forecast of a second consecutive year of record net cash farm income in 2008, we believe domestic demand for our irrigation products will remain robust. International demand is also expected to increase on the strength of higher agricultural commodity prices and global agricultural development." Boenning & Scattergood subsequently upgraded the shares to "market outperform".

Continue reading Lindsay Corporation (LNN): Shares define bullish 'flag'

<map name="google_ad_map_145-1153605"><area href="http://imageads.googleadservices.com/pagead/imgclick/145-1153605?pos=0" shape="rect" coords="1,2,367,28" /><area href="http://services.google.com/feedback/abg" shape="rect" coords="384,10,453,23" /></map>