Oshkosh downgraded to Neutral from Buy at Goldman Sachs

Goldman Sachs analyst Jerry Revich downgraded Oshkosh to Neutral from Buy with an unchanged price target of $94. Access Equipment backlogs are now at record levels, and production rates are approaching prior cycle highs, the analyst tells investors in a research note. The firm says leading indicators suggest supply is now catching up with demand. In addition, Oshkosh’s margin performance has been mixed, with a return to prior cycle margins in Access Equipment anticipated this year but weaker margins in Fire & Emergency and Defense, it adds.