DA Davidson raised the firm’s price target on Rev Group to $16 from $13.50 and keeps a Neutral rating on the shares after its Q3 earnings beat. All three segments are not currently firing on all cylinders, but backlogs and order trends in the laggard business present an opportunity for better results in FY24, the analyst tells investors in a research note. Rev Group has also noted that physical chassis on-hand appear ample through Q1, but the sales mix may change in the event of a UAW strike, the firm added.
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Read More on REVG:
- Rev Group price target raised to $14 from $13 at Goldman Sachs
- Rev Group price target raised to $13 from $12 at Credit Suisse
- Rev Group price target raised to $20 from $16 at Baird
- Rev Group raises FY23 revenue view to $2.55B-$2.6B from $2.45B-$2.55B
- Rev Group reports Q3 adjusted EPS 35c, consensus 23c