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Updated: 12/3/2009 10:14 AM					Sponsored by:
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Valmont shares jump on Wall Street upgrade

By Associated Press
March 3, 2009 | Comments (0)

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Shares of Valmont Industries Inc. rose Tuesday after a Wall Street analyst encouraged investors to buy the diversified manufacturer's stock.

Valmont climbed $3.13, or 7.8 percent, to $43.34 in afternoon trading. The stock has traded between $37.47 and $120.93 over the past 52-weeks.

Sterne Agee & Leach analyst Michael Coleman upgraded the Omaha, Neb., company's stock to "Buy" from "Neutral," telling investors that Valmont Industries "deserves a premium valuation." Coleman set the company's price target at $50.

Coleman expects the company's utility growth in 2009 to help offset any severe decrease in irrigation income _ in line with how he expects other industrials to perform this year.

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