Oshkosh price target lowered to $160 from $171 at Baird

Baird lowered the firm’s price target on Oshkosh (OSK) to $160 from $171 and keeps an Outperform rating on the shares following the in-line Q3 report. The firm says the company’s Defense and Vocational units are both set to grow EBIT in 2025, “providing an important buffer” to Access revenue and EBIT being down materially in 2025. The current Access downcycle demonstrates that Oshkosh’s “increasingly diversified end markets are stabilizing earnings/cash flows vs. prior cycles,” the analyst tells investors in a research note.