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Oshkosh, Modine Manfacturing launched with Buy ratings at Dougherty

Aug. 28, 2019 3:54 PM ETOshkosh Corporation (OSK) Stock, MOD StockMOD, OSKBy: Carl Surran, SA News Editor
  • Oshkosh (OSK +2%) is higher after Dougherty & Co. initiates coverage with a Buy rating and $80 price target, seeing the stock as well-positioned to outperform the broader machinery sector given its exposure to government business.
  • OSK is better suited than peers going into a potential downturn, thanks to recent restructuring actions and a focus on operational excellence, the firm believes.
  • Given the status of the JLTV contract, among other base businesses, Dougherty thinks OSK's earnings profile is at the upper end of the peer group.
  • Dougherty also starts Modine Manufacturing (MOD +1.5%) with a Buy rating with a $13 price target, saying investors should capitalize on the recent price decline following FQ1 earnings as the company's turnaround story continues to materialize.
  • The firm also initiates Manitowoc with a Neutral rating.
  • OSK's average Sell Side Rating is Outperform, its Seeking Alpha Authors Rating is Bullish, and its Quant Rating is Very Bullish.

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