Blue Bird price target lowered to $61 from $67 at DA Davidson

DA Davidson lowered the firm’s price target on Blue Bird (BLBD) to $61 from $67 and keeps a Buy rating on the shares as part of a broader research note previewing Q1 results in Machinery. Many dealers and end-users spent the quarter in a state of “analysis paralysis,” not knowing what to do thanks to multiple major uncertainties on the horizon, and for Machinery end-users, broad post-election optimism gave way to uncertainty about policy specifics, the analyst tells investors in a research note. The tariff question has been put on hold, while tax and policy questions still remain, the firm states, adding that while no company is likely completely immune to tariffs and/or recession conditions, companies that largely serve government customers, safety-related products, and other essential products are likely to outperform pure large-ticket, private-sector capex items.