Shyft falls as D.A. Davidson downgrades to 'neutral'

Shyft

17/12/2024 14:37

(Updates)
    ** Shares of specialty vehicle manufacturer Shyft Group
 SHYF.O  fall 5.4% to $13 in early trade 
    ** D.A. Davidson downgrades SHYF to "neutral" from "buy"
    ** Cuts stock PT to $15 from $18
    ** "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
"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))