Oshkosh price target raised to $124 from $110 at KeyBanc

KeyBanc raised the firm’s price target on Oshkosh to $124 from $110 and keeps an Overweight rating on the shares. The firm notes shares rallied following its strong Q2 results and guidance increase. On the call, Oshkosh sounded more positive on current conditions than heard for several quarters, and expressed significant confidence in future visibility. That confidence resulted in a 2023 guidance increase that exceeded 2024 consensus, and management went so far as to invoke the 2025 targets of $10B-$11B in revenue and $11-$13 in EPS, it adds. While KeyBanc is “encouraged” that Oshkosh is getting back on track, it’d “like a quarter or two of consistency before assuming operational victory.”