Allison Transmission rises after brokerage lifts PT

Allison Transmission Holdings

26/03/2024 14:08

** Automatic transmissions and propulsion systems maker
Allison Transmission's shares  ALSN.N  rise 1.3% to $80.16 in
early trading hours
    ** Oppenheimer raises PT to $90 from $67, representing a
~14% upside to the stock's last close
        ** Cites co's strength in defense and international
demand, pricing tailwinds, and slower transition to EVs
    ** "Demand in Defense, construction, and International
mining and energy remain robust, and should offset supply
constraints in North America On-Highway" - brokerage
    ** Adds that co continues to generate robust FCF, which
should be allocated to internal projects and returns to
shareholders
    ** Three of eight brokerages rate the stock "buy" or higher,
three "hold" and two "sell"; their median PT is $69 - LSEG data
    ** YTD, stock has risen 37.2%

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))