Blue Bird price target raised to $86 from $78 at Needham

Needham raised the firm’s price target on Blue Bird (BLBD) to $86 from $78 and keeps a Buy rating on the shares. The company posted a beat and raise quarter on continued strong end market dynamics, pricing gains and manufacturing efficiencies, with visible upside levers from the potential release of EPA Clean School Bus funding as well as total addressable market expansion, the analyst tells investors in a research note.