Titan International initiated with a Buy at DA Davidson

DA Davidson initiated coverage of Titan International (TWI) with a Buy rating and $11 price target Titan is the leader in agricultural and other tires and wheels, and its stock has declined nearly 50% year-to-date as its core end-markets deteriorated, the analyst tells investors in a research note. However, the firm believes a return to growth could be less than a year away as U.S. farm incomes may inflect in 2025. Regardless of cycle timing, 40% of the company’s sales are to the less*cyclical aftermarket, adds DA. It recommends buying the shares near the cycle bottom.