U.S. markets closed
  • S&P 500

    4,026.12
    -1.14 (-0.03%)
     
  • Dow 30

    34,347.03
    +152.97 (+0.45%)
     
  • Nasdaq

    11,226.36
    -58.96 (-0.52%)
     
  • Russell 2000

    1,869.19
    +5.67 (+0.30%)
     
  • Crude Oil

    76.28
    -1.66 (-2.13%)
     
  • Gold

    1,754.00
    +8.40 (+0.48%)
     
  • Silver

    21.43
    +0.06 (+0.29%)
     
  • EUR/USD

    1.0405
    -0.0008 (-0.07%)
     
  • 10-Yr Bond

    3.6910
    -0.0150 (-0.40%)
     
  • GBP/USD

    1.2091
    -0.0023 (-0.19%)
     
  • USD/JPY

    139.1000
    +0.5100 (+0.37%)
     
  • BTC-USD

    16,566.26
    -17.11 (-0.10%)
     
  • CMC Crypto 200

    386.97
    +4.32 (+1.13%)
     
  • FTSE 100

    7,486.67
    +20.07 (+0.27%)
     
  • Nikkei 225

    28,283.03
    -100.06 (-0.35%)
     

Here's Why Oshkosh Price Target Raised At KeyBanc

  • KeyBanc analyst Ken Newman raised the price target for Oshkosh Corp. (NYSE: OSK) to $110 (an upside of 33.3%) from $105 while maintaining the Overweight rating on the shares.

  • The analyst states that following an eventful 2Q22 earnings season, they are reiterating a bullish view for Equipment Rental and Construction Machinery coverage.

  • According to Newman, the improving non-res. construction trends should support more resilient earnings outlooks in both 2022 and 2023.

  • The analyst mentions that an acceleration in mega-project activity could support further upside to consensus estimates in coming years as recently passed federal stimulus packages become more meaningful beginning in 2023.

  • Newman says he has confidence in underlying conditions, given OSK’s recent operational performance but has less confidence in NT results. In the medium to long term, he has little doubt OSK will get back on track operationally, added the analyst.

  • Despite recent challenges, the analyst does see structural problems in OSK’s operating model and has increased his estimates on what should be higher revenue and expectations for better margin.

  • Newman mentions that given idiosyncratic risk around recent performance trends and the upcoming JLG recompete, he is less willing to assume OSK can exceed its “average” multiple in the NT.

  • Price Action: OSK shares are trading lower by 3.17% at $82.27 on the last check Monday.

Latest Ratings for OSK

Date

Firm

Action

From

To

Mar 2022

Wells Fargo

Initiates Coverage On

Equal-Weight

Mar 2022

Raymond James

Initiates Coverage On

Outperform

Feb 2022

Evercore ISI Group

Downgrades

Outperform

In-Line

View More Analyst Ratings for OSK

View the Latest Analyst Ratings

See more from Benzinga

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.