Goldman Sachs raised the firm’s price target on Allison Transmission (ALSN) to $82 from $72 and keeps a Sell rating on the shares after its Q3 earnings beat. The firm is also raising its 2024-26 EBITDA estimates by 2% on average to reflect higher production rates of class 8 straight trucks, with production now at 10,000 units per month vs. a historical range of 2,000 to 12,000, while also citing the slowing demand for electric vehicles, the analyst tells investors in a research note.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALSN:
- Allison Transmission price target raised to $115 from $90 at Oppenheimer
- 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