Goldman Sachs Downgrades Oshkosh (OSK) to Sell

Goldman Sachs analyst Jerry Revich downgraded Oshkosh (NYSE: OSK) from Neutral to Sell with a price target of $58.00 (from $66.00).

The analyst is incrementally more negative citing a peak in Access Equipment backlogs and some signs of over-supply. He is positive on the company's Defense business and execution in Fire & Emergency but feels the valuation (at 14x mid-cycle EPS of $5) is poised for multiple compression.

For an analyst ratings summary and ratings history on Oshkosh click here. For more ratings news on Oshkosh click here.

Shares of Oshkosh closed at $66.63 yesterday.

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