UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Oshkosh Corporation

In a report published Monday, Jefferies reiterated its Buy rating on Oshkosh Corporation

, and raised its price target from $40.00 to $50.00. Jefferies noted, “OSK reported F1Q13 adjusted EPS of $0.60 vs our $0.25E. The clean beat was split evenly by the Access and Defense segments. 2013 guidance was increased to $2.80-$3.05 from $2.35-$2.60 on higher margins even as the top line was trimmed by $100 mln. Should construction end markets continue to strengthen we see upside to guidance. We maintain our Buy rating and bump our price target to $50.” Oshkosh Corporation closed on Friday at $41.08.