Rev Group upgraded to Outperform from Neutral at Baird

Baird analyst Mircea Dobre upgraded Rev Group to Outperform from Neutral with an unchanged price target of $16. Rev has missed out on the machinery sector rally seen over the past five months as supply chain challenges and a CEO change further compressed expectations, the analyst tells investors in a research note. However, with supply chains improving, the firm sees good value in the stock, "particularly as high backlogs will provide earnings growth visibility" into 2025. It sees potential for the shares to double.