Titan Machinery downgraded to Market Perform from Outperform at Northland

Northland downgraded Titan Machinery to Market Perform from Outperform after the company negatively preannounced Q2 results and lowered FY25 guidance last week. Weaker equipment demand drove the shortfall, notes the firm, which has revised its financial forecast to align with the low-end of guidance and said it will revisit its rating “once we sense that OEM production and dealer inventories are closer to aligning with end market demand.”