Federal Signal price target raised to $94 from $82 at DA Davidson

DA Davidson analyst Michael Shlisky raised the firm’s price target on Federal Signal to $94 from $82 and keeps a Neutral rating on the shares. The company’s Q2 results marked another strong quarter for the company with a beat and raise and increased guidance, and nearly all of its end-markets remained strong in the quarter, the analyst tells investors in a research note. FSS introduced a double-digit average revenue growth target, which seems far-fetched until one considers the company’s track record to date, the firm added.