Vertical Research Stock Recommendations and Price Targets

This is a list of recent ratings by Vertical Research.

Date	Company Name	Action	Current Price	Price Target	Rating	Impact on Share Price
3/19/2025	MAGN Magnera	Initiated Coverage	$19.00	$21.00	Hold	Medium
3/7/2025	TER Teradyne	Initiated Coverage	$84.00	$135.00	Buy	High
3/6/2025	CE Celanese	Upgrade	$58.00	$66.00	Sell ➝ Hold	Medium
3/6/2025	XPO XPO	Upgrade	$109.00	$140.00	Hold ➝ Buy	Low
2/28/2025	RYCEY Rolls-Royce Holdings plc	Upgrade	$10.00		Strong-Buy	High
2/5/2025	FMC FMC	Upgrade	$42.00		Hold	Medium
1/28/2025	RTX RTX	Upgrade	$132.00		Strong-Buy	Low
1/6/2025	FUL H.B. Fuller	Downgrade	$56.00		Buy ➝ Hold	N/A
1/6/2025	TXT Textron	Upgrade	$74.00	$91.00	Hold ➝ Buy	N/A
1/6/2025	GD General Dynamics	Downgrade	$268.00	$352.00 ➝ $290.00	Buy ➝ Hold	N/A
12/10/2024	TPC Tutor Perini	Initiated Coverage	$19.00	$38.00	Buy	N/A
11/7/2024	IFF International Flavors & Fragrances	Upgrade	$77.00	$109.00	Hold ➝ Buy	N/A
11/6/2024	CMI Cummins	Downgrade	$316.00	$350.00	Buy ➝ Hold	N/A
10/29/2024	CE Celanese	Downgrade	$58.00	$130.00	Hold ➝ Sell	High
10/10/2024	HXL Hexcel	Downgrade	$57.00	$65.00	Buy ➝ Hold	Low
10/10/2024	HII Huntington Ingalls Industries	Downgrade	$203.00	$275.00	Buy ➝ Hold	High
10/7/2024	APD Air Products and Chemicals	Upgrade	$293.00	$336.00	Hold ➝ Buy	High
7/23/2024	SYM Symbotic	Initiated Coverage	$21.00	$45.00	Hold	Low
7/23/2024	ST Sensata Technologies	Initiated Coverage	$25.00	$55.00	Buy	Low
7/23/2024	CGNX Cognex	Initiated Coverage	$30.00	$58.00	Buy	Low
7/23/2024	APH Amphenol	Initiated Coverage	$67.00	$65.00	Hold	Low
7/23/2024	BDC Belden	Initiated Coverage	$102.00	$110.00	Buy	Low
7/23/2024	KEYS Keysight Technologies	Initiated Coverage	$152.00	$175.00	Buy	Low
7/23/2024	TEL TE Connectivity	Initiated Coverage	$144.00	$155.00	Hold	Low
7/23/2024	ZBRA Zebra Technologies	Initiated Coverage	$280.00	$375.00	Buy	Low
7/23/2024	TDY Teledyne Technologies	Initiated Coverage	$498.00	$470.00	Buy	Low
7/16/2024	RPM RPM International	Upgrade	$115.00	$126.00	Hold ➝ Buy	Low
7/9/2024	MRTN Marten Transport	Downgrade	$14.00	$22.00 ➝ $19.00	Buy ➝ Hold	Low
7/9/2024	CHRW C.H. Robinson Worldwide	Upgrade	$101.00	$102.00	Sell ➝ Buy	Low
6/14/2024	R Ryder System	Upgrade	$141.00	$125.00 ➝ $145.00	Hold ➝ Buy	Low
6/7/2024	LYFT Lyft	Upgrade	$12.00		Strong-Buy	Low
5/16/2024	MMM 3M	Upgrade	$146.00	$92.00 ➝ $140.00	Hold ➝ Buy	Low
4/29/2024	ODFL Old Dominion Freight Line	Upgrade	$166.00	$175.00	Sell ➝ Hold	Low
4/24/2024	CR Crane	Upgrade	$152.00		Hold ➝ Buy	Low
4/8/2024	WLK Westlake	Downgrade	$101.00	$154.00	Buy ➝ Hold	Low
4/4/2024	GE General Electric	Initiated Coverage	$202.00	$160.00	Buy	Low
3/22/2024	CRH CRH	Initiated Coverage	$89.00	$105.00	Buy	Low
3/19/2024	FUL H.B. Fuller	Initiated Coverage	$56.00	$88.00	Buy	Low
3/8/2024	ALB Albemarle	Downgrade	$73.00	$145.00	Buy ➝ Hold	Low
1/23/2024	CVLG Covenant Logistics Group	Initiated Coverage	$23.00	$35.00	Buy	Low
1/10/2024	MRTN Marten Transport	Upgrade	$14.00	$25.00	Hold ➝ Buy	Low
1/10/2024	RXO RXO	Downgrade	$19.00	$23.00	Buy ➝ Hold	Low
1/10/2024	R Ryder System	Downgrade	$141.00	$120.00	Buy ➝ Hold	Low
1/3/2024	LYB LyondellBasell Industries	Upgrade	$71.00		Hold ➝ Buy	Low
1/3/2024	PPG PPG Industries	Upgrade	$108.00		Hold ➝ Buy	Low
1/2/2024	FTV Fortive	Downgrade	$73.00		Buy ➝ Hold	Low
1/2/2024	OTIS Otis Worldwide	Downgrade	$102.00		Buy ➝ Hold	Low
12/13/2023	JCI Johnson Controls International	Downgrade	$80.00	$55.00	Buy ➝ Hold	Low
11/20/2023	CR Crane	Initiated Coverage	$152.00	$110.00	Hold	Low
10/25/2023	HXL Hexcel	Upgrade	$57.00	$72.00	Hold ➝ Buy	Low
10/19/2023	ALLE Allegion	Downgrade	$129.00	$128.00 ➝ $100.00	Buy ➝ Hold	Low
10/16/2023	FMC FMC	Upgrade	$42.00	$94.00	Hold ➝ Buy	Low
10/16/2023	VLTO Veralto	Upgrade	$97.00	$82.00	Hold ➝ Buy	Low
9/15/2023	EMR Emerson Electric	Upgrade	$109.00	$120.00	Hold ➝ Buy	Low
9/5/2023	OLN Olin	Downgrade	$25.00	$58.00	Buy ➝ Hold	Low
7/11/2023	XPO XPO	Downgrade	$109.00		Buy ➝ Hold	Low
7/11/2023	NSC Norfolk Southern	Upgrade	$233.00	$260.00	Hold ➝ Buy	Low
6/9/2023	VRT Vertiv	Upgrade	$74.00		Hold ➝ Buy	Low
6/9/2023	CE Celanese	Downgrade	$58.00	$122.00	Buy ➝ Hold	Low
5/30/2023	HEI HEICO	Upgrade	$266.00	$191.00	Hold ➝ Buy	Low
5/24/2023	TXT Textron	Downgrade	$74.00	$70.00	Buy ➝ Hold	Low
5/22/2023	CTVA Corteva	Upgrade	$61.00	$67.00	Hold ➝ Buy	Low
5/3/2023	TTD Trade Desk	Upgrade	$56.00		Neutral ➝ Positive	Low
3/27/2023	FTV Fortive	Upgrade	$73.00	$74.00	Hold ➝ Buy	Low
3/13/2023	APD Air Products and Chemicals	Upgrade	$293.00		Hold ➝ Buy	Low
2/22/2023	HUN Huntsman	Downgrade	$16.00		Buy ➝ Hold	Low
1/30/2023	EMN Eastman Chemical	Downgrade	$87.00	$94.00 ➝ $92.00	Buy ➝ Hold	Low
1/24/2023	MGNI Magnite	Downgrade	$12.00		Neutral	Low
1/24/2023	PUBM PubMatic	Downgrade	$10.00		Neutral	Low
1/24/2023	TTD Trade Desk	Downgrade	$56.00		Positive ➝ Neutral	Low
1/23/2023	BDRBF Bombardier	Downgrade	$57.00		Buy ➝ Hold	Low
1/23/2023	PPG PPG Industries	Downgrade	$108.00		Buy ➝ Hold	Low
1/6/2023	LMT Lockheed Martin	Downgrade	$441.00	$491.00	Buy ➝ Hold	Low
1/4/2023	ALB Albemarle	Upgrade	$73.00	$275.00	Hold ➝ Buy	Low
1/4/2023	APD Air Products and Chemicals	Downgrade	$293.00	$328.00	Buy ➝ Hold	Low
1/3/2023	ALLE Allegion	Upgrade	$129.00	$128.00	Hold ➝ Buy	Low
1/3/2023	ITW Illinois Tool Works	Downgrade	$249.00	$240.00 ➝ $220.00	Buy ➝ Hold	Low
12/5/2022	WNC Wabash National	Downgrade	$11.00	$27.00	Buy ➝ Hold	Low
11/21/2022	RXO RXO	Initiated Coverage	$19.00	$27.00	Buy	Low
11/4/2022	HWM Howmet Aerospace	Lower Price Target	$129.00	$45.00		Low
11/4/2022	BBD.B Bombardier, Inc. Class B	Boost Price Target	C$79.00	C$45.00 ➝ C$53.00		N/A
10/14/2022	YELL Yellow	Downgrade	$0.00		Buy ➝ Hold	Low
10/14/2022	CSX CSX	Upgrade	$29.00		Hold ➝ Buy	Low
10/14/2022	WERN Werner Enterprises	Downgrade	$29.00		Buy ➝ Hold	Low
10/14/2022	CHRW C.H. Robinson Worldwide	Upgrade	$101.00		Sell ➝ Hold	Low
9/12/2022	VMC Vulcan Materials	Upgrade	$232.00		Hold ➝ Buy	Low
9/1/2022	VMC Vulcan Materials	Upgrade	$232.00	$225.00	Hold ➝ Buy	Low
8/17/2022	MRTN Marten Transport	Downgrade	$14.00	$24.00 ➝ $25.00	Buy ➝ Hold	Low
8/17/2022	PCAR PACCAR	Downgrade	$98.00	$44.44 ➝ $45.33	Buy ➝ Hold	Low
8/17/2022	CHRW C.H. Robinson Worldwide	Downgrade	$101.00	$104.00	Hold ➝ Sell	Low
8/17/2022	ODFL Old Dominion Freight Line	Downgrade	$166.00	$130.00	Hold ➝ Sell	Low
8/1/2022	LYB LyondellBasell Industries	Downgrade	$71.00	$96.00	Buy ➝ Hold	Low
7/29/2022	SWK Stanley Black & Decker	Downgrade	$77.00	$130.00 ➝ $110.00	Buy ➝ Hold	Low
7/27/2022	HXL Hexcel	Boost Price Target	$57.00	$60.00	Outperform	Low
7/27/2022	RTX RTX	Lower Price Target	$132.00	$120.00	Outperform	Low
7/5/2022	CMCSA Comcast	Downgrade	$37.00		Positive	N/A
6/27/2022	PPG PPG Industries	Upgrade	$108.00	$139.00	Hold ➝ Buy	Low
5/31/2022	SNAP Snap	Downgrade	$9.00		Buy	High
5/6/2022	BDRBF Bombardier	Upgrade	$57.00		Hold ➝ Buy	Medium
5/6/2022	BBD.B Bombardier, Inc. Class B	Upgrade	C$79.00	C$55.00	Hold ➝ Buy	N/A