Wells Fargo Initiates Coverage On Several Machinery Related Stocks

March 13, 2022 Editor

Wells Fargo analyst Seth Weber initiated coverage on several Machinery related stocks.

Oshkosh Corp (NYSE: OSK) initiated with an Equal Weight and a price target of 7, implying an upside of 8%.
The analyst looks for a pull-back or favorable Defense-segment update to get more constructive.
Weber initiated Manitowoc Co Inc (NYSE: MTW) with an Underweight rating with a price target of , implying an upside of 6%.
Weber noted ongoing initiatives improved Manitowoc’s product development, manufacturing processes, and quality.
Herc Holdings Inc (NYSE: HRI) initiated an Overweight rating and a price target of 5, implying an upside of 38%.
Weber expects 13% revenue and 17% EBITDA growth over three years.
Weber initiated Deere & Co (NYSE: DE) with an Overweight rating and a price target of 5, implying an upside of 18%.
The analyst noted Deere continues to distance itself from the rest in the industry in adopting secular tailwinds around technology and sustainability.
Caterpillar Inc. (NYSE: CAT) initiated with an Equal Weight rating and a price target of 1, implying an upside of 7.8%.
United Rentals, Inc. (NYSE: URI) initiated with an Overweight rating and a price target of 5, implying an upside of 31%.
The analyst noted the company’s diversified fleet and end-market exposure help higher returns.
Price Action: OSK shares are trading higher by 0.59% at $108.23, MTW lower by 1.36% at $16.02, HRI higher by 1.7% at $148.46, DE higher by 2.16% at $386.33, CAT higher by 1.12% at $214.16 and URI higher by 0.9% at $324.15 on the last check Friday.

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