DA Davidson raised the firm’s price target on Alamo Group to $235 from $230 and keeps a Buy rating on the shares. The analyst states that the improving chassis supply is a significant tailwind for the company that underscores strong growth for Industrial Equipment segment in 2024. Margins could also continue to expand in Vegetation Management Division in 2024, even if growth rates are not stellar, the firm tells investors in a research note.
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- Alamo Group price target raised to $265 from $235 at EF Hutton
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