Oshkosh price target raised to $122 from $114 at Wells Fargo

Wells Fargo analyst Seth Weber raised the firm’s price target on Oshkosh to $122 from $114 and keeps an Equal Weight rating on the shares. The firm notes shares were up +1.0% on a mixed update, with a Q4 EPS beat led by Defense margin catch-up and lower tax rate, while Access & Vocational margin was light. With forward op leverage lower than Wells expected and Access moving deeper into the cycle, the firm remains on the sidelines.