Oshkosh price target raised to $112 from $108 at BofA

BofA analyst Michael Feniger raised the firm’s price target on Oshkosh to $112 from $108 and keeps an Underperform rating on the shares. Oshkosh reported “a strong start to 2024” and raised its fiscal year adjusted EPS guidance, but the firm says rental capex budgets leave BofA concerned of an “Access air pocket” risk in FY25. The firm’s cautious cyclical view on Access leaves its Underperform-rated, but it adds that a swing factor to bridge any “Access air pocket” is the ability of Oshkosh to ramp up and execute its Postal Service contract.