Baird analyst Mircea Dobre upgraded Oshkosh to Outperform from Neutral with a price target of $137, up from $92. The company’s Q2 results demonstrated “clear evidence of operational improvement” in Vocational with the AeroTech deal closed and Defense “turning the corner as well,” the analyst tells investors in a research note. The firm says the earnings ramp potential of the two segments will provide “important offsets” should Access unit trends soften. Baird cites signs of operating improvement for the upgrade.
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