What Happened?
Shares of specialty vehicles contractor Oshkosh (NYSE: OSK) jumped 5.1% in the afternoon session after analysts at Goldman Sachs upgraded the stock to "buy" from "neutral". The investment firm also boosted its price target on the company to $131 from $124, suggesting potential upside from its current trading levels.
The shares closed the day at $118.12, up 4.1% from previous close.
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What The Market Is Telling Us
Oshkosh’s shares are somewhat volatile and have had 12 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
Oshkosh is up 27.2% since the beginning of the year, and at $119 per share, has set a new 52-week high. Investors who bought $1,000 worth of Oshkosh’s shares 5 years ago would now be looking at an investment worth $1,694.
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