Alamo Group price target raised to $173 from $156 at DA Davidson

DA Davidson analyst Michael Shlisky raised the firm’s price target on Alamo Group to $173 from $156 but keeps a Neutral rating on the shares after its Q4 earnings beat. While the company does not provide financial guidance, there was much to like in the results and its outlook, the analyst tells investors in a research note. The firm adds that it "could sense" the significant confidence on how the next 9-12 months may play out for Alamo Group, further stating that even in areas like Snowplows and Ag, Alamo Group appears to be "pleasantly surprised" on how demand is holding up.