Blue Bird price target raised to $40 from $35 at Roth MKM

Roth MKM raised the firm’s price target on Blue Bird to $40 from $35 and keeps a Buy rating on the shares. The firm is citing channel checks last week indicating that Zum initiated an RFP to purchase 2,500 EV school buses, which marks the largest planned purchase to date and deliveries reaching into 2029, the analyst tells investors in a research note. The firm adds however that there are other large EV school bus RFPs in the market, and that the rate of deliveries will likely be gated by charging infrastructure installs.