Oppenheimer raised the firm’s price target on Allison Transmission (ALSN) to $115 from $90 to reflect a bullish outlook and favorable market dynamics for the company’s ‘s primary NA On-Highway end-market, while keeping an Outperform rating on the shares. The firm notes Allison delivered a strong Q3 beat, driven by robust demand in NA/International On-Highway and Defense end-markets. Given the Q3 beat and continued demand in NA On-Highway, management raised FY24 guidance, Oppenheimer says.
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Read More on ALSN:
- Allison Transmission price target raised to $77 from $67 at BofA
- Allison Transmission price target raised to $108 from $103 at Baird
- Allison Transmission Reports Record Q3 2024 Results
- Allison raises FY24 revenue view to $3.135B-$3.215B from $3.09B-$3.17B
- Allison Transmission reports Q3 EPS $2.27, consensus $2.01
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