BofA analyst Sherif El-Sabbahy raised the firm’s price target on Blue Bird to $66 from $60 and keeps a Buy rating on the shares. Blue Bird raised its FY24 outlook “notably again this quarter” and provided preliminary 2025 guidance pointing to a “strong 2025 to follow,” while Blue Bird also announced a transition plan for the CEO and Chairman roles alongside Q3 earnings, the analyst tells investors. The firm maintains its 2024 and 2025 revenue estimates and raised its EBITDA estimates 7%-8% to $177M and $195M, respectively, on the updated outlook and preliminary guide for 2025.
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