Oshkosh price target raised to $99 from $93 at Wells Fargo

Wells Fargo analyst Seth Weber raised the firm’s price target on Oshkosh to $99 from $93 and keeps an Equal Weight rating on the shares. The firm notes Oshkosh’s initial 2023 EPS about $1 below consensus sets a reasonable bar, but remains predicated on better execution versus 2022/a show-me story. With Defense projected down year-over-year, with a low margin, Wells sees valuation as full.