Blue Bird price target raised to $34 from $31 at R.F. Lafferty

R.F. Lafferty raised the firm’s price target on Blue Bird to $34 from $31 and keeps a Buy rating on the shares. Blue Bird’s adjusted EPS beat consensus by 58c and its strong revenue growth was attributed to a 26.5% increase in unit volume to 2,129 buses and an 8.8% increase in revenues per bus, the analyst tells investors in a research note. Despite improved gross margins, the company is still experiencing supply constraints from several suppliers, the firm notes.