Benchmark Upgrades Oshkosh (OSK) to Hold; Commercial Recovery in FY13

Benchmark upgraded Oshkosh (NYSE: OSK) from Sell to Hold with a price target of $20.00.

Benchmark analyst said, "We maintain our FY12 revenue estimate of $7.42 billion, but we lower our FY12 EPS by $0.28 to $1.49 to reflect lower margin from lower FHTV Defense revenue. We upgrade OSK for three reasons: 1) Consensus expectations have been sharply reduced to reflect FMTV risk; 2) The Access Equipment recovery remains on track, while Fire & Commercial appear to have bottomed; 3) Management is implementing a strategy to lower costs and drive earnings growth in FY13."

For more ratings news on Oshkosh click here and for the rating history of Oshkosh click here.

Shares of Oshkosh closed at $20.11 yesterday.

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