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Investing.com - Freedom Broker raised its price target on Taylor Devices , Inc. (NASDAQ:TAYD) to $48.00 from $43.00 on Friday, while maintaining a Buy rating on the stock. Currently trading at $46.60, the company maintains a "GREAT" financial health score according to InvestingPro analysis, though appears slightly overvalued at current levels.
The research firm cited Taylor Devices’ performance exceeding expectations, with the defense business identified as the primary growth driver for the company.
Freedom Broker noted that Taylor Devices’ structural business showed improvement due to planned changes and strong demand in Asia, contributing to the company’s overall positive performance.
The firm also highlighted that Taylor Devices signed an agreement with Force Development Services to expand its presence in the European market, representing a strategic growth opportunity.
According to Freedom Broker, Taylor Devices’ profit margin widened on higher revenue despite increased operating costs, supporting the decision to raise the price target while maintaining the Buy rating.
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