D.A. Davidson downgrades Shyft Group rating to 'neutral', cuts PT

Shyft

17/12/2024 13:59

** D.A. Davidson downgrades rating for specialty vehicle
manufacturer Shyft Group  SHYF.O  to "neutral" from "buy"
    ** Cuts stock PT to $15 from $18, which is a 7% upside from
the stock's last close
    ** "We view some elevated execution risks such as
multi-continent merger of equals currently without a CFO and
combined company having profit margins below many peers" -
brokerage
    ** SHYF and Switzerland-based Aebi Schmidt would merge in an
all-stock deal
    ** One of four brokerages rates stock "buy" and three as
"hold"; their median PT is $15, according to data compiled by
LSEG
    ** Up to the last close, stock up 14.73% YTD

 (Reporting by Anshuman Tripathy)
 ((Anshuman.Tripathy@thomsonreuters.com))