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. The firm said Vegetation cyclical compression continues, backlog erosion will pressure 1H25 but significant restructuring efforts such as plant consolidations and year-to-date headcount down 10%, should keep a lid on decremental margins.