Baird analyst Luke Junk maintains $Allison Transmission (ALSN.US)$ with a hold rating, and adjusts the target price from $90 to $108.
According to TipRanks data, the analyst has a success rate of 44.7% and a total average return of -1.5% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Allison Transmission (ALSN.US)$'s main analysts recently are as follows:
Following the Q3 report, which was described as 'another beat and raise', there has been an increment in the 2024 topline estimate by 1% and a 3% increase in the 2024 adjusted EBITDA estimate. Allison Transmission is recognized as gaining from the sustained demand in vocational trucks, which appears more resilient and warrants a higher multiple. However, there are ongoing concerns regarding the margins as they progress from one cycle to the next.
The optimistic perspective and positive market conditions for Allison Transmission's main NA On-Highway end-market are reflected in the expectation of strong performance. The company reported a significant third-quarter beat, fueled by sturdy demand in NA/International On-Highway and Defense end-markets. Following the third-quarter performance and persistent demand in NA On-Highway, the company's forecast for FY24 has been revised upwards.
The firm maintains a positive stance on the near-term fundamentals of Allison Transmission and expresses a continued favorable disposition following the company's third-quarter results, which surpassed high expectations.
Note:
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