WD-40 Co. shares fell 4.5% in early Monday trading after it was downgraded to underperform from neutral at D.A. Davidson. Analysts slashed their price target to $157 from $238. D.A. Davidson’s Linda Bolton Weiser raised concerns that increased input costs could put profits at risk when the company reports its fiscal second-quarter results, scheduled for Friday. Costs for plastic resin, petroleum-based items and tin have worsened, the note says. And WD-40’s exposure in Russia, which accounts for 3% of annual sales, makes a guidance increase less likely. WD-40 stock has slumped nearly 43% over the last year.
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