Oppenheimer analyst Ian Zaffino maintains $Allison Transmission (ALSN.US)$ with a buy rating, and adjusts the target price from $90 to $115.
According to TipRanks data, the analyst has a success rate of 49.5% and a total average return of 4.6% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Allison Transmission (ALSN.US)$'s main analysts recently are as follows:
The third quarter showed another instance of surpassing expectations, leading to a slight increase in the 2024 top-line estimate by 1% and a more substantial lift in the 2024 adjusted EBITDA estimate by 3% following the quarterly report. Allison Transmission stands to gain from the prolonged demand in vocational trucks, which appears more robust and warrants a higher multiple. However, there are still reservations regarding the company's margin progression over different business cycles.
Allison Transmission's third-quarter results surpassed expectations, propelled by vigorous demand across North American and International On-Highway segments as well as the Defense sector. The company's positive performance has led to an uplifted forecast for FY24, signaling ongoing strength in the North American On-Highway market.
The firm has a favorable view on the near-term fundamentals and holds an overall positive disposition following results from the third quarter which surpassed the high expectations.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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