DA Davidson upgraded Shyft Group (SHYF) to Buy from Neutral with a $15 price target following meetings with the company’s incoming CEO. The strategic and financial details received during the day provided “a great deal of comfort” on how the Aebi Schmidt deal might play out, says the analyst, who also notes that the stock has declined by about 30% since the firm’s downgrade a month ago. Talks with incoming CEO Barend Fruithof “revealed immediate customer enthusiasm about the deal”, adds the analyst, who argues that the risk-reward has turned more favorable.
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