DA Davidson analyst Michael Shlisky raised the firm’s price target on Federal Signal to $94 from $82 and keeps a Neutral rating on the shares. The company’s Q2 results marked another strong quarter for the company with a beat and raise and increased guidance, and nearly all of its end-markets remained strong in the quarter, the analyst tells investors in a research note. FSS introduced a double-digit average revenue growth target, which seems far-fetched until one considers the company’s track record to date, the firm added.
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Read More on FSS:
- Federal Signal Reports Second Quarter Results Including Double-Digit Sales and Earnings Growth; Raises Full-Year Outlook
- Federal Signal raises 2024 adjusted EPS view to $3.20-$3.35 from $2.95-$3.15
- Federal Signal reports Q2 adjusted EPS 95c, consensus 84c
- Federal Signal Corporation Declares Dividend of $0.12 per share
- Federal Signal (FSS) Q2 Earnings Cheat Sheet