Aebi Schmidt initiated with a Neutral at BTIG

BTIG initiated coverage of Aebi Schmidt (AEBI) with a Neutral rating and no price target following the close of the company’s merger with the Shyft Group. Aebi is well positioned to manage the uncertain macro backdrop given its municipal and other government-backed business, which should provide some stability, the analyst tells investors in a research note. BTIG likes the company’s portfolio but is on the sidelines due to macro uncertainty in both the U.S. and Europe.