DA Davidson maintains Buy rating on Wabash National, $20 price target

DA Davidson maintains Buy rating on Wabash National, $20 price target

DA Davidson maintained their Buy rating on Wabash National's stock with a price target of $20.00.

The price target implies an upside of 69.6% from the Sep 21 close of $11.79.

Key takeaways from the analyst note

Strong Order Growth: Wabash National has experienced a significant increase in orders, with total trailer orders up 195% year-over-year in August, primarily driven by a remarkable 409% increase in dry van orders. This surge indicates robust demand for Wabash's products, suggesting a positive outlook for revenue growth.

Increasing Backlog and Market Recovery: The total trailer backlog rose 41% year-over-year, reflecting a solid pipeline of future business. This backlog, combined with improving market conditions for trailers, positions Wabash for a potential upturn in sales and profitability, reinforcing the decision to maintain a Buy rating.

Explore more price target data and ratings for Wabash National on the Forecasts tab.