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State Department approves Oshkosh FMS sale to Slovakia for JLTVs » 15:2205/0905/09/23
The State Department has…
The State Department has made a determination approving a possible Foreign Military Sale to the Government of Slovakia of M1278A1/A2 Heavy Gun Carriers Joint Light Tactical Vehicles, or JLTVs, and related equipment and services for an estimated cost of $250M. The Defense Security Cooperation Agency delivered the required certification notifying Congress of this possible sale. The Government of Slovakia has requested to buy 192 M1278A1/A2 Heavy Gun Carriers Joint Light Tactical Vehicles (JLTVs) as well as M153 Common Remote Weapons Stations, or CROWS, with Display and Control Panels, or DCP; M2 Quick Change Barrels, or QCB, .50 caliber machine guns; MK19 40mm grenade launchers; M2A1 machine guns; M4A1 Joint Chemical Agent Detectors; AN/VAS-5B2 Driver's Vision Enhancers; JLTV kits; special tools to support the JLTV; JLTV spare parts; M205 gun mounts; basic issue items for CROWS; CROWS DCP retrofit kits; AN/VRC-104 radio kits; 16 port network switch kits; Silent Watch energy storage kits; DVE installation kits; M4A1 detector kits; M1114 turret rings and hatches; Maintenance Support Devices, or MSD, with wireless at-platform test sets; Driver's Vision Enhancer, or DVE, sensor modules; display control modules; bracket assembly; electronics components assembly; CROWS appended trainers; CROWS diagnostic kits; CROWS maintenance tool sets; M2 Small Arms Tool Kits; Small Arms MK19 Tool Kits; M2 spare parts; MK93 weapon mounts; Toughbook laptops with interactive electronic technical manuals, or IETM, and cables; JLTV contractor spare parts support; CROW Systems spare parts support; Maintenance Support Items in support of MK19; MK19 Mod III spare parts support; CROWS spare parts; CROWS Basic Issue Items boresight kit components; Total Package Fielding; Field Service Representative support; U.S. government technical assistance; training; technical publications/manuals; and other related elements of logistics and program support. The estimated cost is $250M. The principal contractors will be Oshkosh Corporation and Oshkosh Defense, LLC in Oshkosh, Wisconsin. There are no known offset agreements in connection with this potential sale.
Oshkosh price target lowered to $82 from $89 at Evercore ISI » 08:1705/0905/09/23
Evercore ISI analyst…
Evercore ISI analyst David Raso lowered the firm's price target on Oshkosh to $82 from $89 and keeps an In Line rating on the shares. Following the Q1 earnings season for the industrial machinery group, the firm raised its FY23 EPS estimates an average of 5%-7%, but lowered FY24 by about 2%-3%, stating that strong reports "generally were faded" as macro fears assume EPS cuts late in 2023 and 2024 to be a down year in terms of earnings.
Oshkosh price target lowered to $86 from $95 at DA Davidson » 08:0105/0105/01/23
DA Davidson lowered the…
DA Davidson lowered the firm's price target on Oshkosh to $86 from $95 and keeps a Neutral rating on the shares. The company's near-term outlook appears firm, with Access and Fire segments both maintaining strong backlogs, though the firm remains "somewhat cautious" on Oshkosh and believes that multiple things have to happen to return to pre-pandemic margins, the analyst tells investors in a research note.
|Over a month ago|
Oshkosh price target lowered to $101 from $109 at Stifel » 10:5404/2804/28/23
Stifel analyst Stanley…
Stifel analyst Stanley Elliott lowered the firm's price target on Oshkosh to $101 from $109 and keeps a Buy rating on the shares. The company's Q1 results beat expectations, which was helped by modestly improving supply chain trends and improving price/cost, the analyst tells investors. Stifel is optimistic on the shares because aerial fleet ages remain abnormally high, defense margins and vocational margins are likely to improve in the upcoming years, and opportunities for synergies exist in the vocational segment.
Oshkosh price target lowered to $96 from $113 at Credit Suisse » 08:0404/2804/28/23
Credit Suisse analyst…
Credit Suisse analyst Jamie Cook lowered the firm's price target on Oshkosh to $96 from $113 and keeps an Outperform rating on the shares following the Q1 results. Oshkosh's print is a step in the right direction in terms of regaining credibility after missing EPS guidance in 2022, though the market is looking for more consistent EPS performance across the portfolio and greater confidence the macro holds, the analyst tells investors in a research note.
Oshkosh reports Q1 EPS $1.59, consensus $1.02 » 07:1104/2704/27/23
Reports Q1 revenue…
Reports Q1 revenue $2.27B, consensus $2.08B.
Oshkosh price target lowered to $107 from $114 at Morgan Stanley » 08:2904/2004/20/23
Morgan Stanley analyst…
Morgan Stanley analyst Dillon Cumming lowered the firm's price target on Oshkosh (OSK) to $107 from $114 and keeps an Overweight rating on the shares. The firm says in its Q1 earnings preview for the North America machinery group that it sees "more beats than misses materializing across the bulk of our Machinery coverage," adding that share price follow-through is "less of a certainty relative to prior quarters as investors increasingly discount near-term EPS upside." Near-term EPS and guidance upside "will be discounted more" than in prior quarters, contends the firm, which thinks early reads from Acuity Brands (AYI) and Lindsay (LNN) "underscore the idea that investors are looking for cracks in the pavement."
Oshkosh price target lowered to $85 from $102 at Citi » 06:2004/1804/18/23
Citi analyst Timothy…
Citi analyst Timothy Thein lowered the firm's price target on Oshkosh to $85 from $102 and keeps a Neutral rating on the shares. The analyst reduced price targets for machinery companies with high relative non-residential exposure. The firm sees a difficult competitive backdrop as the market digests capacity additions that likely add to downside pricing risk.
Oshkosh price target lowered to $107 from $113 at Deutsche Bank » 05:3804/1204/12/23
Deutsche Bank lowered the…
Deutsche Bank lowered the firm's price target on Oshkosh to $107 from $113 and keeps a Buy rating on the shares. The earnings setup for the multi-industry group is "undeniably challenging," with investors increasingly nervous about the macro environment, the analyst tells investors in a research note. However, the firm does not expect this quarter to bring much new insight into the broader recession debate .Against this backdrop, industrial investors are likely to remain cautious, it contends.
Oshkosh downgraded to Neutral from Buy at Goldman Sachs » 04:3704/0304/03/23
Goldman Sachs analyst…
Goldman Sachs analyst Jerry Revich downgraded Oshkosh to Neutral from Buy with an unchanged price target of $94. Access Equipment backlogs are now at record levels, and production rates are approaching prior cycle highs, the analyst tells investors in a research note. The firm says leading indicators suggest supply is now catching up with demand. In addition, Oshkosh's margin performance has been mixed, with a return to prior cycle margins in Access Equipment anticipated this year but weaker margins in Fire & Emergency and Defense, it adds.