Oshkosh (OSK) PT Raised to $105 at Citi

Citi analyst Kyle Menges raised the price target on Oshkosh (NYSE: OSK) to $105.00 (from $95.00) while maintaining a Buy rating.

The analyst comments "We have updated our model following OSK’s 1Q results, lowering our 2025E adj. EPS to $10.45 from $10.50, and have recalibrated our model for anticipated tariff impacts. Solid 1Q guidance / commentary from customers (URI and HRI) suggests Access top-line could hold up better than we initially feared, although anticipated tariff impacts weigh on our margin assumptions. We have slightly increased our Vocational segment estimates, but sightly decreased our Defense segment estimates following a soft 1Q. Overall, while 2H margins may be a bit depressed by tariffs, it appears that the fundamental outlook for OSK is largely in-tact. We continue to see good visibility to DD% earnings growth beyond 2025 and think tariff impacts will likely be minimized over time through a combination of tariff easing and further mitigation. We raise our price target to $105 from $95 on higher out-year estimates and a slightly higher multiple. Maintain Buy."

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