Northland trims Titan Machinery price target, says selloff ‘overdone’

Northland lowered the firm’s price target on Titan Machinery to $33 from $38 and keeps an Outperform rating on the shares after the company reported “modestly better than expected” Q4 results, but provided “mixed” FY25 guidance. The firm thinks that the hit to earnings was driven by higher interest expense relative to expectations, not from operational issues, and continues to think the company’s shares are undervalued relative to the company’s cash flow generating capability, calling the post-earnings selloff “overdone.”