DA Davidson raised the firm’s price target on Alamo Group to $219 from $209 and keeps a Buy rating on the shares. The firm hosted investor meetings with the company’s management last week, stating that it’s takeaways were “positive”, the analyst tells investors in a research note. Alamo Group has a solid outlook for the second half of 2024, despite Vegetation headwinds, and an even healthier outlook on 2025, DA Davidson added. Cost trimming efforts, coupled with a favorable interest rate environment, should set up Vegetation for net-income growth starting in Q1, the firm added.
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