Raymond James upgraded Allison Transmission (ALSN) to Strong Buy from Outperform with a price target of $110, up from $105. The anticipated Dana (DAN) off-highway acquisition marks a rare large-scale move for Allison and will create a more balanced mix between on- and off-highway revenue, the analyst tells investors in a research note. Dana’s $2.5B scale and global manufacturing footprint give it strong advantages in supplying OEMs across multiple regions and technologies, the firm says.
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