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Baird ups Titan Machinery target but tells investors to ‘be careful’
The Fly

Baird ups Titan Machinery target but tells investors to ‘be careful’

Baird analyst Mircea Dobre raised the firm’s price target on Titan Machinery to $40 from $34 and keeps a Neutral rating on the shares. The company’s Q3 results exceeded expectations as demand remained strong, Dobre tells investors in a research note. Guidance was raised but further upside in Q4 is "highly likely," says the analyst. He sees a "uniquely favorable" current environment, with used pricing, manufacturer incentives, parts pricing, and lack of new equipment discounting "all boosting margin in ways that will prove unsustainable." As such, investors should "be careful," writes Dobre.

Published first on TheFly

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