Oppenheimer raised the firm’s price target on Allison Transmission (ALSN) to $135 from $115 and keeps an Outperform rating on the shares. Despite continued soft North America on-highway trends, the company’s Q4 EBITDA of $265M beat its/Street’s $241M/$248M estimates on cost reductions and price increases. The Off-highway business is expected to grow mid-single digit-plus year-over-year, helped by infrastructure, industrial and mining end-markets, Oppenheimer adds.
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