Custom Truck One Source Inc (CTOS) shares soared 5.07% on Thursday, following the company's better-than-expected earnings report and positive outlook for the upcoming year.
The company reported a net loss of $28.7 million, or $0.12 per share, for the full year 2024, narrower than analysts' expectations. While revenue declined by 3.4% to $1.80 billion, it still managed to beat analysts' estimates by a slim margin.
Despite the loss, analysts remain optimistic about CTOS's prospects. Oppenheimer raised its price target for the stock to $6 from $5, maintaining an "Outperform" rating. The firm believes that the company's strong position in the truck and equipment sales segment, which contributed 59% of total revenue, bodes well for future growth.
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