DA Davidson Upgrades Diebold Nixdorf (DBD) to Buy, 'Too Cheap to Ignore'

DA Davidson analyst Matthew Summerville upgraded Diebold Nixdorf (NYSE: DBD) from Neutral to Buy with a price target of $29.00 (from $25.00).

The analyst comments "We are upgrading shares of DBD from Neutral to BUY, lifting our PT to $29 and raising our 2023 and 2024 forecasts. Diebold maintains a healthy backlog, with inbound orders/demand in ATMs and SCO extending Product revenue visibility at least through mid-year ‘24. We are seeing material improvements in Product gross margins and healthy OpEx control, while Services margins are likely to move higher looking ahead. We also believe DBD has materially upgraded its Board, with arguably the strongest operational intellectual capital in our 20+ year tenure covering the name. B/S remains in good shape with FCF set to materially improve in ‘24."

For an analyst ratings summary and ratings history on Diebold Nixdorf click here. For more ratings news on Diebold Nixdorf click here.

Shares of Diebold Nixdorf closed at $21.40 yesterday.

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