Credit Suisse Upgrades Oshkosh (OSK) to Neutral
- Donald Trump Sworn in as 45th U.S. President
- U.S. stocks pare gains after Trump's inaugural speech
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Herbalife (HLF) Says SEC Requested Documents on Anti-Corruption Compliance in China; Reviewed with DoJ
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Credit Suisse upgraded Oshkosh (NYSE: OSK) from Underperform to Neutral with a price target of $54.00 (from $50.00), saying Friday's sell-off was overdone.
Analyst Jamie Cook commented, "We believe OSK's selloff on Friday (down ~11%) is overdone following disappointing but realistic FY'17 and LT guidance provided at OSK's analyst day and are upgrading the stock from Underperform to Neutral. Recall, our Underperform rating was based on our view Access was at peak and rolling, which is underway and the market fully appreciates. Furthermore, we underappreciated OSK's Defense business. OSK has won more Int'l M-ATV business along with the JLTV, which will help support EPS in the Access downturn. Last, the Commercial and F&E segments are now experiencing market tailwinds coupled with a self-help story (OSK targeting double digit margins in both segments vs. single digit today)."
The firm revised FY'16-19 EPS to $2.95, $3.30, $3.40 and $4.60, respectively.
Shares of Oshkosh closed at $50.88 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- M&T Bank (MTB) PT Raised to $165 at FBR Capital Following 4Q Beat
- PacWest Bancorp (PACW) PT Raised to $60.50 at FIG Partners Following 4Q Report
- Carter's (CRI) PT Lowered to $105 at Oppenheimer; Reiterates Outperform
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Upgrades
Related EntitiesCredit Suisse
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!