Oppenheimer Maintains Outperform On Allison Transmission, $36 PT

In a research report issued yesterday, Oppenheimer analyst Ian Zaffino maintained an Outperform rating on Allison Transmission (NYSE:ALSN) with a price target of $36.00.

Zaffino noted, “Strong 3Q14 adjusted EBITDA of $202M beat our $171M estimate. The result was mostly driven by continued recoveries in the North America On-Highway and Off- Highway end markets, as well as higher demand in the Service Parts segment. Management raised guidance and repaid $79.5M of debt. Reflecting the strong quarter, our 2014E EBITDA improves to $717M (from $688M), and we raise our 2015E EBITDA to $744M (from $711M). Maintain Outperform and $36 price target.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Ian Zaffino has a total average return of 5.3% and a 52.3% success rate. Zaffino has a 17.9% average return when recommending ALSN, and is ranked #945 out of 3349 analysts.

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