DA Davidson starts Custom Truck at Buy with positive vertical integration view

DA Davidson analyst Michael Shlisky initiated coverage of Custom Truck One Source with a Buy rating and $12 price target. The analyst is positive on the company’s "unique position in an attractive Machinery sub-sector". The firm further notes that the vertically-integrated structure lends itself to significant advantages on cost and service for Custom Truck. DA Davidson further states that it sees T&D as a growth market, even in the near-term, as the "electrification of everything" story plays out.