BofA analyst Sherif El-Sabbahy raised the firm’s price target on Allison Transmission to $44 from $40 and keeps an Underperform rating on the shares. Q1 beat expectations on higher revenue and EBITDA and the outlook for the year was raised on robust services revenues and a greater than expected pick up in pricing, the analyst tells investors. While stating that the raised outlook was "a step in the right direction," BofA reiterates its Underperform rating on concerns of potential cycle-over-cycle margin degradation and weakening trends in the transportation sector.
Published first on TheFly
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