Allison Transmission price target raised to $87 from $84 at Baird

Baird analyst Luke Junk raised the firm’s price target on Allison Transmission to $87 from $84 and keeps a Neutral rating on the shares. The firm said they reported 1Q results that were above expectations, though 2024 guidance was merely maintained likely reflecting lingering truck cycle uncertainty. Baird said they continue to lean more positive overall, with any near-term weakness potentially driving improved risk/reward.