B. Riley raised the firm’s price target on Titan Machinery (TITN) to $19 from $15 and keeps a Neutral rating on the shares following a transfer of coverage. Riley expects “several underlying drivers” to create positive momentum in the diversified industrial sector, namely “rapidly increasing” demand for high-powered artificial intelligence data centers, funding from federal and state infrastructure programs reaching the construction stage, and the ongoing energy transition from traditional fossil fuels to renewables. The firm’s top picks are NPK International (NPKI) and Alta Equipment (ALTG).
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