What Happened?
Shares of Custom Truck One Source 
CTOS experienced an 11.7% increase during the afternoon trading session. This jump followed an upgrade by Stifel, a Wall Street firm, which raised its rating from Hold to Buy and adjusted its price target upwards.
Details of the Upgrade
Stifel raised its price target for the equipment distributor from $5.00 to $7.00 per share, indicating significant potential for growth from its current trading level. This upgrade was driven by a survey from Stifel showing positive trends in equipment availability during the second quarter. The company anticipates that the reduced availability will enhance rental utilization for Custom Truck’s equipment, especially in the key Transmission and Distribution (T&D) market. Additionally, Stifel highlighted a growing optimism regarding orders for Truck Equipment Sales (TES) over the past two quarters, further enhancing its favorable outlook on the company’s earnings prospects.
Is It the Right Time to Invest?
To understand if now is a good time to invest in Custom Truck One Source, access our comprehensive analysis report, available for free.
Market Reactions
Shares of Custom Truck One Source have shown significant volatility, with 34 instances of greater than 5% movements in the past year. Such dramatic shifts are infrequent and signify that this recent news has had a substantial impact on market perceptions of the company.
Year-to-Date Performance
Custom Truck One Source’s stock has risen by 18.6% since the start of the year, currently priced at $5.74 per share, which is near its 52-week peak of $6 recorded in November 2024. Investors who purchased $1,000 worth of shares five years ago would now see their investment valued at approximately $1,386.
Looking to the Future
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