Deutsche Bank reaffirmed its Buy rating and a price target of $99.00 for Oshkosh (NYSE:OSK), labeling the stock a ‘Catalyst Call: Buy Idea’. The analysts noted that Oshkosh has significantly underperformed its industry group this year, with a 6% decline in its share price compared to an 11% median gain for the coverage universe.
However, the analysts see potential for Oshkosh to deliver a substantial earnings-per-share (EPS) beat this quarter, as the company improves its execution after a challenging period in 2021-22. The analysts attribute this improvement to ongoing enhancements in the supply chain, which they believe will enable Oshkosh to achieve volume growth beyond its current guidance.
Anticipating a significant beat, the analysts also expect the company to raise its full-year EPS guidance. Their forecast for 2023 stands at $6.42 EPS, well above the current Street estimate of $6.16.