Hyster-Yale Materials named a ‘2024 Top Pick’ at Northland

Northland named Hyster-Yale Materials a “2024 Top Pick.” The firm, which thinks shares are “worth at least $80” notes that its current price target of $80 “is the absolute low of our valuation analysis.” The firm, which expects shares to move to its price target as the Street recognizes the company’s free cash flow generating potential and “steep discount” relative to its peers, keeps an Outperform rating on the shares.