BofA raised the firm’s price target on Allison Transmission to $50 from $44 and keeps an Underperform rating on the shares following the company’s Q3 report. The firm now forecasts higher 2023 and 2024 revenue and EBITDA than it previously expected to reflect persistent On-Highway demand, but reiterates its Underperform rating on concerns of potential cycle-over-cycle margin degradation and weakening trends in the transportation sector.
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