Blue Bird price target lowered to $63.50 from $66 at BofA

BofA lowered the firm’s price target on Blue Bird (BLBD) to $63.50 from $66 and keeps a Buy rating on the shares. Blue Bird “beat and raised for a seventh consecutive quarter as revamped operations continue to drive performance,” says the analyst, who maintains the firm’s 2024/25 revenue estimates and raise its 2025 EBITDA estimate 5% to $205M. The firm’s higher EBITDA estimate for 2025 is offset by higher net debt as the company reinvests in facilities, driving the firm’s lowered target, the analyst noted.