Douglas Dynamics price target lowered to $36 from $40 at DA Davidson

DA Davidson lowered the firm’s price target on Douglas Dynamics to $36 from $40 and keeps a Buy rating on the shares. The analyst cites the company’s Q3 earnings miss while noting that the stock has fallen to a 7-year low amid temporary impacts of low snowfall and challenged chassis supply. A return to a normal snow level this coming winter, which is the “most-appropriate forecast”, suggests significant earnings growth from here, the firm tells investors in a research note.