Federal Signal price target raised to $84 from $82 at DA Davidson

DA Davidson raised the firm’s price target on Federal Signal (FSS) to $84 from $82 but keeps a Neutral rating on the shares after its Q1 earnings beat. The company reported relatively strong order trends and margin expansion in both segments, the analyst tells investors in a research note, also noting that Federal Signal was one of the few Machinery companies to raise guidance this earnings season, even though investors were in a forgiving mood and would not have penalized a cut. The firm adds however that it is still looking for the right valuation to turn more positive on the stock.