UPDATE: DA Davidson Upgrades Federal Signal (FSS) to Buy

October 7, 2022 6:59 AM EDT
Get Alerts FSS Hot Sheet
Price: $47.59 -3.49%

Rating Summary:
    5 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 12 | Down: 17 | New: 16
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(Updated - October 7, 2022 8:18 AM EDT)

DA Davidson analyst Michael Shlisky upgraded Federal Signal (NYSE: FSS) from Neutral to Buy with a price target of $46.00 (from $39.00).

The analyst commented, "We are upgrading FSS to BUY, from Neutral, with a new price target of $46 (from $39) following our Industrials conference and subsequent follow-up call with management. The broad theme of owning a government-focused Machinery company in a recession remains appealing, and this time it is backed by large and already-passed stimulus bills. Beyond that, however, we were intrigued by management's comments about the TowHaul deal and ability to maintain pricing when commodity prices revert. In our view, the stock could see increased investor attention as macro, end-market, and company-specific sources of upside converge."

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

Shares of Federal Signal closed at $39.88 yesterday.

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