Barrington lowered the firm’s price target on Commercial Vehicle Group to $10 from $13 and keeps an Outperform rating on the shares. While the firm says the company reported a “solid” Q3, the firm is taking a more cautious outlook in terms of its adjusted EBITDA expectations based on an estimate for Class 8 truck production to decline 18% in 2024. However, the firm believes the stock already reflects a potential down year in adjusted EBITDA in 2024 based on its decline since earlier this year, the analyst noted.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on CVGI:
- CVG Reports Third Quarter 2023 Results
- CVGI Upcoming Earnings Report: What to Expect?
- Commercial Vehicle Group appoints Melanie Cook to board of directors
- Commercial Vehicle Group opens manufacturing facility in Morocco
- CVG Announces Participation in the D.A. Davidson Annual Diversified Industrials & Services Conference
