J.P. Morgan Maintains Neutral on Oshkosh

J.P. Morgan is out with its report today on Oshkosh

, maintaining Neutral. In a note to clients, J.P. Morgan writes, "Earlier this week we hosted meetings in Europe with OSK's Dave Sagehorn, CFO, and Pat Davidson, VP Investor Relations. Investors were most focused on (1) defense budget outlook and the impact on OSK's longer term revenue and margins; (2) AWP performance this cycle vs. last; (3) municipal spending and the impact on other segments; and (4) capital allocation. Overall, we did not hear anything incremental that changes our current Neutral rating, as visibility in three of its four segments remains limited, at best." Shares of OSK closed Wednesday $27.29, up 0.44% from Tuesday's close.