Titan Machinery price target raised to $14 from $13 at Baird

Baird analyst Mircea Dobre raised the firm’s price target on Titan Machinery (TITN) to $14 from $13 and keeps a Neutral rating on the shares as a Q3 EPS beat driven by tax and revenues that came in just ahead of consensus were accompanied by “another” FY25 guidance cut. The “good news is we did see the first sequential decline in new equipment inventories in over two years,” but this is the start of a longer process and “arguably the toughest days still lie ahead,” the analyst tells investors. The firm, which thinks pressure on margin and earnings likely amplifies in FY26, still feels it is “too early to get involved,” the analyst added.