** J.P. Morgan raises machinery manufacturer Oshkosh Corp OSK.N price target to $106 from $92, a downside of 3.3% to the stock's last close

** Reiterates 'neutral' rating

** Says outlook for defense and vocational segment remains favorable over the near term

** However, J.P. Morgan says OSK's access equipment sales may see a modest downturn in 2025, but the longer-term outlook looks strong supported by new applications as well as replacement demand

** J.P. Morgan raises co's 2025 adj EPS to $9.36 from $9.34

** Also expects adj EPS to rise between $18 and $22 by 2028

** Nine of sixteen brokerages rate it "buy" or higher, six "hold" and one "sell"; median PT is $109.50 - data compiled by LSEG

** As of last close, stock had risen 15.3% YTD

(Reporting by Apratim Sarkar)

((Apratim.Sarkar@thomsonreuters.com))