Oshkosh falls on reports that Trump may cancel USPS electric mail truck contract

Oshkosh

06/12/2024 17:23

** Shares of Oshkosh  OSK.N  fall 7.1% to $103.95 
    ** Reuters reports Donald Trump's transition team is
considering canceling the United States Postal Service's
contracts to electrify its delivery fleet, citing people
familiar with the matter
    ** Report says Trump's transition team is now reviewing how
it can unwind the postal service's multi-billion dollar
contracts, including those with Oshkosh and Ford  F.N  
    ** In 2023, Congress gave USPS $3 billion as part of a $430
billion climate bill to buy EVs and charging infrastructure; as
part of that, Oshkosh is expected to deliver about 45,000 EVs
    ** 7 of 16 brokerages rate the stock "buy" or higher, 8
"hold" and 1 "sell"; their median PT is $122.5
    ** Including session's moves, stock down 2.4% YTD

 (Reporting by Abhinav Parmar in Bengaluru)
 ((Abhinav.parmar@thomsonreuters.com))