Custom Truck One Source price target lowered to $5 from $6 at Oppenheimer

Oppenheimer analyst Scott Schneeberger lowered the firm’s price target on Custom Truck One Source (CTOS) to $5 from $6 and keeps an Outperform rating on the shares. The firm notes the company’s Q3 revenue increased 3% year-over-year to $447M vs. its estimate/consensus of $424M/$448M, respectively. Custom Truck lowered the high-end of its 2024 revenue guidance range to $1.800B-$1.890B, which compares to Oppenheimer’s maintained estimate of $1.800B.