NEW YORK, Jan 17 (Reuters) - The collapse in oil prices has hit energy-related stocks hard, but pump and welding products maker Colfax Corp has cut costs, and earnings are holding up, making its shares look like a bargain, Barron’s said in its latest edition.
Shares of Colfax have plunged almost 75 percent since crude prices started their deep slide in the summer of 2014. But the company has restructured, paring costs so that earnings are not expected to fall much further, Barron’s said.
At just 12 times cash earnings, Colfax shares are cheap for a high-quality industrial and could help put a floor to its share price, the publication said. (Reporting by Herbert Lash; Editing by Jonathan Oatis)