Alamo Group price target raised to $205 from $204 at Baird

Baird analyst Mircea Dobre raised the firm’s price target on Alamo Group (ALG) to $205 from $204 and keeps an Outperform rating on the shares. Vegetation cyclical compression continues and backlog erosion will pressure 1H25, but significant restructuring efforts should keep a lid on decremental margins, the analyst tells investors in a research note. The firm said it remains a buyer on the shares and would use cyclical headwinds to establish a position in a quality small-cap earnings compounder.