2022-07-07 10:05:19 OSK Oshkosh
07/07/22 07/0710:05 07/07/2210:05 | Citi downgrades Oshkosh, says machinery downturn 'is coming'Citi analyst Timothy Thein downgraded Oshkosh to Neutral from Buy with a price target of $90, down from $120. Lead indicators and other macro variables are "sending too strong a message that a downturn is coming" in machinery, Thein tells investors in a research note. The analyst cut estimates and targets "across the board" but says near-term estimates "should be largely insulated" due to high backlogs and embedded pricing. While the market has priced in some form of a recession, history suggests the potential for further downside, Thein writes in a note previewing the Q2 earnings reports. However, he upgraded Deere (DE) to Buy as he sees a "2:1 upside/downgrade case" from current share levels. Thein recommends skewing towards larger cap names and upgraded Deere while downgrading Oshkosh (OSK). |
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Luminar Technologies call volume above normal and directionally bullish »
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FAT Brands Inc (Class B Stock) trading resumes
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Wheaton Precious Metals price target lowered to C$68 from C$70 at National Bank »
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FAT Brands Inc (Class B Stock) trading halted, volatility trading pause
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Maverix Metals price target lowered to C$6.50 from C$6.75 at National Bank »
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H&R REIT price target raised to C$16.50 from C$15.25 at National Bank »
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Granite Real Estate price target raised to C$90 from C$85 at National Bank »
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Exchange Income price target raised to C$61 from C$59 at National Bank »
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Galaxy Digital terminates acquisition agreement for BitGo »
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Redfin put volume heavy and directionally bearish »
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Chemtrade Logistics price target raised to C$11 from C$9.25 at National Bank »
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CES Energy Solutions price target raised to C$3.70 from C$3.50 at National Bank »
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Wesdome Gold Mines price target lowered to C$15 from C$16 at National Bank »
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IMAC Holdings reports Q2 revenue $5M vs. $3.5M last year »
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Liberty TripAdvisor Holdings trading resumes
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Sienna Senior Living price target raised to C$16 from C$15 at National Bank »
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Rite Aid, WellSpan enter partnership for Central Pennsylvania »
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Park Lawn price target lowered to C$38 from C$45 at National Bank »
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Pan American Silver price target lowered to C$33 from C$39 at National Bank »
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Northland Power price target raised to C$49 from C$47 at National Bank »
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Lassonde Industries price target lowered to C$141 from C$161 at National Bank »
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Fortuna Silver Mines price target lowered to C$4.25 at National Bank »
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Centerra Gold price target lowered to C$10.50 from C$14 at National Bank »
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