Shyft's favorable Q2 results earns upgrade at DA Davidson

seekingalpha07-30

As the Vocation truck category is likely to experience a rapid growth phase and the Independent Truck Upfitters acquisition is expected to be a “home run” for the company, DA Davidson has upgraded The...

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Second quarter results showed that the performance of the Service Body business was encouraging and production of Super Duty chassis reached its highest level since 2007, which portends strong trends in SHYF’s near future, amplified by Ford’s  plans to increase Super Duty production capacity by an additional 25%. Meanwhile, the company’s most challenged end markets – Step Vans and Motorhomes – appear to be bottoming, and Blue Arc EV appears “well on its way to launch and potential breakeven during 2025.” Even though the stock put in a strong performance on Q2 results, DA Davidson considers the share price continues to be inexpensive versus its medium-term poten","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","BK4516":"特朗普概念","BK4588":"碎股","BK4555":"新能源车","BK4099":"汽车制造商","F":"福特汽车","BK4574":"无人驾驶","BK4149":"建筑机械与重型卡车","SHYF":"The Shyft Group, Inc."},"translate_title":"Shyft良好的第二季度业绩赢得DA Davidson的升级","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SHYF":1,"F":0.7},"content_text":"As the Vocation truck category is likely to experience a rapid growth phase and the Independent Truck Upfitters acquisition is expected to be a “home run” for the company, DA Davidson has upgraded The Shyft Group (NASDAQ:SHYF) to Buy from Neutral and hiked their target price by 50% to $18, driving shares up as much as 15% to a 10-month high. Second quarter results showed that the performance of the Service Body business was encouraging and production of Super Duty chassis reached its highest level since 2007, which portends strong trends in SHYF’s near future, amplified by Ford’s (F) plans to increase Super Duty production capacity by an additional 25%. Meanwhile, the company’s most challenged end markets – Step Vans and Motorhomes – appear to be bottoming, and Blue Arc EV appears “well on its way to launch and potential breakeven during 2025.” Even though the stock put in a strong performance on Q2 results, DA Davidson considers the share price continues to be inexpensive versus its medium-term potential. Shares were up as much as 13% on Monday and have gained 34% since reporting results July 25.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.28.3","shortVersion":"4.28.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2455697205"}