DA Davidson analyst Michael Shlisky raised the firm’s price target on Rev Group to $25 from $23 and keeps a Buy rating on the shares after the company announced the sale of its Collins Bus division to Forest River/Berkshire Hathaway and the the wind-down of its ENC Bus division. This is yet another win for CEO Mark Skonieczny, who continues to evolve Rev Group into a more-focused and better-performing organization, the analyst tells investors in a research note, adding that as estimates continue to rise and as the transformation plan continues to show results, the firm sees potential for a gradual re- rating in the stock.
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Read More on REVG:
- REV Group Announces Collins Bus Sale and Segment Reorganization
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- Rev Group price target raised by $4 at Baird, here’s why
- Rev Group files to sell 28.27M shares of common stock for holders
