Investing.com -- KeyBanc upgraded Oshkosh Corporation (NYSE:OSK) to "Overweight" from "Sector Weight" setting a price target of $113 on increased optimism for 2025.
Shares of Oshkosh were trading up more than 2% at $98.
“We think there is optimism surrounding the new administration’s focus on “America First” products and manufacturing, infrastructure investments, and an overall expectation for a return to demand growth,” analyst said.
Brokerage has a positive industry outlook on expectations of improved activity under a potentially supportive post-election environment. KeyBanc believes Oshkosh’s robust backlog-to-forward revenue coverage of 138% positions it well to capitalize on the anticipated rebound in demand.
“We think OSK has significant room to monetize its backlog, it has higher backlog-to-forward sales than peers.”
While Q4 orders may remain subdued, KeyBanc sees current challenges as priced into the stock. The firm expects better order rates, higher growth, and potential EPS revisions as market conditions improve.
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