Blue Bird price target raised to $78 from $70 at Needham

Needham raised the firm’s price target on Blue Bird (BLBD) to $78 from $70 and keeps a Buy rating on the shares. The company printed inline revenues and a bottom line beat while raising full year EBITDA guidance, the analyst tells investors in a research note. The firm adds it is positive on Blue Bird’s improved margin profile and strategic scarcity post recent M&A in the North American specialty vehicle market.