Oshkosh price target lowered to $101 from $109 at Stifel

Stifel analyst Stanley Elliott lowered the firm’s price target on Oshkosh to $101 from $109 and keeps a Buy rating on the shares. The company’s Q1 results beat expectations, which was helped by modestly improving supply chain trends and improving price/cost, the analyst tells investors. Stifel is optimistic on the shares because aerial fleet ages remain abnormally high, defense margins and vocational margins are likely to improve in the upcoming years, and opportunities for synergies exist in the vocational segment.