The Environmental Protection Agency (EPA) has resumed the third phase of the Clean School Bus initiative following an assessment aligned with recent executive directives. This move revives about $900 million in funding, with approximately 10% of the total having received approval over the past week.
This development is seen as a positive signal for Blue Bird Corporation (BLBD, Financial), a key player in the electric vehicle sector, which has been navigating a predominantly cautious market environment. An analyst from Barclays highlights the renewed funding as a beneficial catalyst for the company, maintaining an Overweight recommendation and setting a price target of $54 on Blue Bird's stock.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 7 analysts, the average target price for Blue Bird Corp (BLBD, Financial) is $53.00 with a high estimate of $68.00 and a low estimate of $36.00. The average target implies an upside of 51.39% from the current price of $35.01. More detailed estimate data can be found on the Blue Bird Corp (BLBD) Forecast page.
Based on the consensus recommendation from 7 brokerage firms, Blue Bird Corp's (BLBD, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Blue Bird Corp (BLBD, Financial) in one year is $32.10, suggesting a downside of 8.31% from the current price of $35.01. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Blue Bird Corp (BLBD) Summary page.
