William Blair Reiterates Outperform for Valmont Industries (VMI)

William Blair analysts Brian Drab and Tim Mulrooney reiterated an Outperform rating for Valmont Industries (NYSE: VMI).

Valmont is a manufacturer of fabricated metal products.

Valmont reported 2Q GAAP EPS of $0.65, including $0.45 in transaction costs related to acquiring Delta plc. Adjusted EPS of $1.10 was below William Blair's $1.35 estimates and above consensus of $1.08.

"Looking past 2010, we believe the outlook is more promising, largely a function of the expected release of several large electricity transmission projects, increasing demand for wireless infrastructure, the likely passage of a new U.S. highway bill, recovering construction markets, and growing global demand for high-efficiency irrigation equipment."

Shares of VMI are currently trading at $79.21.