DA Davidson analyst Michael Shlisky raised the firm’s price target on Blue Bird to $23 from $17 and keeps a Buy rating on the shares after holding virtual meetings with investors and the company’s management. Blue Bird has provided more detail on its EV opportunities ahead, the analyst states, noting that the company could make more gross profit from EVs alone than the entire enterprise makes today. DA Davidson added that the potential for upside from EV substitution, where each electrified bus brings in three times the gross profit, represents upside or a margin of safety to investors.
Published first on TheFly
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