Astec price target raised to $40 from $36 at Baird

Baird raised the firm’s price target on Astec (ASTE) to $40 from $36 and keeps a Neutral rating on the shares. Q3 results were relatively in line with expectations for the second consecutive quarter, noted the analyst, who also points out that management expects flattish sales in 2024, implying about 16% growth in Q4.