Shares of Oshkosh Corporation (OSK) surged 5% in intraday trading, as multiple Wall Street analysts raised their price targets and reiterated bullish ratings on the stock. The wave of positive analyst actions appears to have fueled investor optimism, driving the stock's significant upward movement.
Several prominent financial institutions have adjusted their outlook on Oshkosh. Truist Securities raised its price target substantially from $127 to $155, while maintaining a Buy rating. D.A. Davidson also showed confidence in the company by increasing its target to $160 from $148. Other firms, including BofA Global Research, Jefferies, and KeyBanc, have similarly upgraded their price objectives, with targets ranging from $125 to $155.
The flurry of upward revisions follows Oshkosh's recent quarterly earnings report, which seemingly impressed analysts. Despite BofA maintaining an Underperform rating, their price target increase suggests improved expectations. The consensus among analysts polled by FactSet gives Oshkosh an average rating of Overweight with a mean price target of $139.08, indicating a generally positive outlook on the stock's potential. This collective optimism from Wall Street appears to be a key driver behind today's sharp rise in Oshkosh's stock price.
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