Oshkosh named short-term buy idea at Deutsche Bank

Deutsche Bank placed a “Catalyst Call: Buy” on Oshkosh as a short-term investment idea. The firm thinks the company can report Q4 earnings 4% above consensus and views a 2024 adjusted earnings per share guidance range of $10-$11 as highly probable, representing substantial upside to current $10.28 consensus. This is predicated on continued, modest growth in access equipment demand given Oshkosh’s “robust” backlog, corroborated by recent, optimistic management commentary around the equipment rental capex landscape, the analyst tells investors in a research note.