BTIG raised the firm’s price target on Blue Bird (BLBD) to $65 from $55 and keeps a Buy rating on the shares. The stock has traded up about 30% since reporting Q3earnings in early August on the back of an earnings beat and guidance raise as the management continues to execute both on the top line and on costs, the analyst tells investors in a research note. Blue Bird’s gross margins are up about 240bps over the trailing-12-month average period and look poised to continue to melt up on higher volume and firming average sales prices, the firm added.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BLBD:
- Blue Bird’s Strong Financial Performance and Promising Future: A Buy Recommendation by Gregory Lewis
- Blue Bird’s Record Growth and Optimistic Outlook
- Blue Bird Announces $100 Million Share Buyback Plan
- Blue Bird price target raised to $49 from $36 at Roth Capital
- Blue Bird price target raised to $53 from $49 at Needham