KeyBanc upgrades Oshkosh, Federal Signal, Terex, shares gain

Federal Signal

04/12/2020 15:18

** KeyBanc Capital Markets upgrades heavy machinery and
vehicle manufacturers Oshkosh  OSK.N , Federal Signal  FSS.N ,
Terex Corp  TEX.N  to "overweight" from "sector weight"; shares
rise
    ** OSK, FSS, TEX up between 2.3% to ~6% 
    ** Brokerage's view is supported by increasing optimism for
economic reopening as vaccines become available in 2021
    ** Says it expects higher prices across the group
    ** Macro indicators and cyclical activity suggest inflection
next year - Keybanc 
    ** Further adds, share prices are naturally running ahead of
fundamentals as OEMs catch up to suppliers
    ** Brokerage says since the pandemic low earlier this year,
its focus has been on suppliers and distributors given their
greater diversification and exposure to the after market
    ** On a YTD basis, FSS up 2.2%, TEX rose ~12%, while OSK
down ~11%

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com;
twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776))