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.
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