Wells Fargo analyst Jerry Revich raised the firm’s price target on Allison Transmission (ALSN) to $98 from $85 and keeps an Equal Weight rating on the shares. The firm reiterates its positive outlook for the Machinery, Industrials & Environmental Services space heading into earnings. Wells argues the Machinery supply-driven recovery is broadening to new equipment, non-residential lead indicators are accelerating, and cash conversion is improving.
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