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July 30, 2014
11:24 EDTOSKOshkosh rebounds after analysts defend stock
Oshkosh's (OSK) stock is climbing as a number of analysts defended the shares after the company reported lower than expected profits yesterday morning. Oshkosh designs and manufacturers specialty vehicles and vehicle bodies for the defense, fire and emergency and commercial industries. WHAT'S NEW: After Oshkosh reported significantly lower than expected Q3 EPS and its shares fell yesterday, Robert W. Baird analyst Mircea Dobre upgraded his rating on the stock to Outperform from Neutral this morning. The risks facing the company from weaker profit margins for its Access unit, along with more uncertainty about demand for the equipment, is already priced into the stock, Dobre believes. The company should benefit from rebounding construction activity and the potential for stronger than expected results from its Defense unit, the analyst forecast. Additionally, Oshkosh's management has performed well, according to the analyst, who cut his price target on the shares to $55 from $58. Meanwhile, BMO Capital analyst Charles Brady was also upbeat on the stock's outlook. The company's results were disappointing, but the fundamentals of its Access Equipment business remain solid, while its Commercial business continues to improve, Brady wrote. Additionally, like Dobre, Brady believes that the company's Defense business could surpass expectations. Calling Oshkosh the cheapest stock among the companies he covers, Brady kept an Outperform rating on the shares but trimmed his price target on the stock to $61 from $66. Oshkosh's profit margins can continue to improve and the company may obtain contracts for its Joint Light Tactical Vehicle, Stifel analyst Stanley Elliot wrote. The stock is attractive following its pullback, according to the analyst, who kept a Buy rating on the shares. PRICE ACTION: In late morning trading, Oshkosh climbed $1, or 2.4%, to trade near $47 per share. The stock closed at $53.19 on July 28.
News For OSK From The Last 14 Days
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August 26, 2015
12:47 EDTOSKOn The Fly: Top stock stories at midday
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11:08 EDTOSKOshkosh upgraded after JLTV contract win, but BofA says 'sell the news'
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10:11 EDTOSKHigh option volume stocks
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10:08 EDTOSKOshkosh upgraded to Buy from Hold at Standpoint Research
10:00 EDTOSKOn The Fly: Analyst Upgrade Summary
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09:56 EDTOSKOshkosh price target raised to $51, could be a takeover target, says Baird
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09:26 EDTOSKMeritor to supply components to Oshkosh for recently awarded JLTV program
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09:25 EDTOSKOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Abercrombie & Fitch (ANF), down 15.1%... Express (EXPR), up 9.8%... Frontline (FRO), up 10.4%... Chico's FAS (CHS), up 9.3%. ALSO HIGHER: Oshkosh (OSK), up 11.9% after being awarded a $6.7B contract by the U.S. Army... EMC Corporation (EMC), up 5.8% after Re/code reported that the board is considering a VMware (VMW) downstream merger proposal... Google (GOOG), up 4.6% after being upgraded to Conviction Buy from Neutral at Goldman... Ford (F), up 2.4% after Bloomberg reported that the company is considering returning production of Bronco and Ranger to the U.S. NOTABLE: Cameron International (CAM), up 45.4% after announcing that it will be acquired by Schlumberger (SLB). Schlumberger is down 1.9%. LOWER: WisdomTree (WETF), down 3.6% after being downgraded to Sell from Buy at Citi... Transocean (RIG), down 3.4% after proposing to cancel Q3 and Q4 dividends.
09:00 EDTOSKOshkosh vehicle contract a significant long-term positive, says Baird
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08:54 EDTOSKOshkosh upgraded to Buy from Hold at Drexel Hamilton
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08:43 EDTOSKOshkosh JLTV contract win could add 20c or more to 2016 EPS, says Jefferies
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08:29 EDTOSKBofA/Merrill says to sell Oshkosh on the $6.7B Army contract win
BofA/Merrill said the announcement the Army awarded Oshkosh a $6.7B joint light tactical vehicle contract is a "sell the news" event. Analyst Ross Gilardi said Oshkosh was a front-runner to win the contract and shares have materially outperformed the group. Additionally, the analyst does not expects meaningful contribution until 2018 and will not be enough to offset a decline in Access profitability. BofA/Merrill rates shares and Underperform with a $30 price target.
06:13 EDTOSKBAE Systems loses multibillion dollar bid to build new Humvee, U.K. Times says
BAE Systems (BAESY) has lost out on a bid to build new Humvees for the U.S. Army, The U.K. Times. The Army selected Oshkosh (OSK) for the $6.7B contract over BAE, which was part of a consortium led by Lockheed Martin (LMT), and AM General, which built the original Humvees. Reference Link
August 25, 2015
18:47 EDTOSKOn The Fly: After Hours Movers
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17:40 EDTOSKOshkosh up 11.6% after being awarded $6.7B $6.7B contract by U.S. Army
17:39 EDTOSKOshkosh awarded $6.7B U.S. Army contract
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17:11 EDTOSKOshkosh awarded $114.67M government contract
Oshkosh Defense was awarded an $114.67M firm-fixed-price contract with options for the Joint Light Tactical Vehicle, or JLTV, low-rate initial production and full-rate production. Work will be performed in Oshkosh, Wisconsin, with an estimated completion date of August 24, 2024. Bids were solicited via the Internet with three received. FY15 research, development, test, evaluation, and other procurement funds in the amount of $114.67M were obligated at the time of the award.
August 20, 2015
10:07 EDTOSKHigh option volume stocks
August 19, 2015
10:10 EDTOSKCiti says Army contract could be worth $30B, ups Oshkosh to Buy
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09:35 EDTOSKOshkosh upgraded to Buy from Neutral at Citi
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