Baird analyst Mircea Dobre raised the firm’s price target on Titan Machinery (TITN) to $14 from $13 and keeps a Neutral rating on the shares as a Q3 EPS beat driven by tax and revenues that came in just ahead of consensus were accompanied by “another” FY25 guidance cut. The “good news is we did see the first sequential decline in new equipment inventories in over two years,” but this is the start of a longer process and “arguably the toughest days still lie ahead,” the analyst tells investors. The firm, which thinks pressure on margin and earnings likely amplifies in FY26, still feels it is “too early to get involved,” the analyst added.
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Read More on TITN:
- Morning Movers: Dick’s Sporting jumps and Kohl’s sinks following earnings
- Titan Machinery reports Q3 EPS 7c, consensus 5c
- Titan Machinery cuts FY25 adjusted EPS view to (25c)-25c from 0c-50c
- Titan Machinery (TITN) Q3 Earnings Cheat Sheet
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
