Craig-Hallum lowered the firm’s price target on Titan Machinery to $35 from $45 and keeps a Buy rating on the shares. OEM delivery delays and pre-delivery inspections/set-up processes shifted revenue from Q3 to Q4, the analyst tells investors in a research note. The company has reasonably good line of sight to OEM delivery and company inspection schedules, which should allow for solid Q4 performance, although it adds some risk, the firm argues.
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Read More on TITN:
- Titan Machinery price target lowered to $43 from $44 at B. Riley
- Titan Machinery price target lowered to $25 from $32 at Baird
- Titan Machinery Inc. Announces Results for Fiscal Third Quarter Ended October 31, 2023
- Titan Machinery backs FY24 EPS view $4.60-$5.25, consensus $5.05
- Titan Machinery reports Q3 EPS $1.32, consensus $1.53
