Benzinga | Dec 7, 2021 08:44AM EST

JPMorgan Sees 39% Upside In Columbus McKinnon

* JPMorgan analyst Stephen Tusa initiated Columbus McKinnon Corp. (NASDAQ:CMCO) with an Overweight rating and a price target of $64, implying an upside of 39.16%.

* Tusa says the combination of "below-trend" sales and potential structural margin improvement are attractive given the stock's "wider-than-normal valuation discount to the sector."

* Columbus is a supplier of intelligent motion solutions that lift, position, and secure materials, with leading market positions in lifting solutions and an expanding presence in faster-growing conveying and automation markets built through recent acquisitions, mentions Tusa.

* Price Action: CMCO shares closed higher by 3.19% at $45.99 on Monday.