BLBD - Blue Bird: No Longer A Hidden EV Gem But There's More Upside
2024-07-04 09:53:26 ET
Summary
- Almost a year ago, I thought Blue Bird was grossly mispriced in the market at a time when its turnaround strategy was beginning to yield results.
- On the back of an improved financial performance, strong backlog growth, and macro tailwinds, Blue Bird stock has gained 113% since then.
- Blue Bird is just getting started, and I believe the improving macroeconomic environment will drive earnings higher in the next five years.
- With more than 90% of school buses in the U.S. powered by diesel, Blue Bird has a massive addressable market opportunity to capture. Encouragingly, we are already seeing promising results.
Blue Bird Corporation ( BLBD ), one of the leading school bus manufacturers in the United States, caught my attention almost a year ago as the company, in my opinion, was well-positioned back then to benefit from the growing demand for EV school buses. My investment thesis for the company was centered around a few key observations....
Blue Bird: No Longer A Hidden EV Gem But There's More Upside