Douglas Dynamics price target raised to $38 from $30 at DA Davidson

DA Davidson raised the firm’s price target on Douglas Dynamics to $38 from $30 and keeps a Buy rating on the shares after its Q2 earnings beat. With the guidance unchanged however, the positive reaction in the stock price was likely driven by further commentary that thanks to cost cuts, a return to normal weather patterns could result in higher Attachments margins along with expectations of strong demand and positive margin trajectory in Solutions into next year, the analyst tells investors in a research note.