Oshkosh (OSK) is back in focus after Oshkosh Defense agreed to a public private partnership with the Marine Depot Maintenance Command, aimed at using advanced manufacturing to speed part production for critical military fleets.

The Oshkosh Defense partnership arrives after a strong run, with the share price at US$166.99 and a 30 day share price return of 11.71%, alongside a 1 year total shareholder return of 76.71% that points to strong recent momentum.

If this defense focused story has you thinking about where else capital could work hard, our screener of 24 power grid technology and infrastructure stocks is a useful way to surface related infrastructure names.

With Oshkosh trading at US$166.99, sitting only around 2% below the average analyst price target yet identified with an estimated 11% intrinsic discount, is there still a buying opportunity here, or is the market already pricing in potential future growth?

Most Popular Narrative: 1% Undervalued

Oshkosh's most followed narrative pegs fair value at $168.73, a touch above the latest close at $166.99, which keeps the valuation debate very tight.

Expansion of large-scale infrastructure projects and growth in data center construction are fueling robust demand for Oshkosh's specialty vehicles and equipment, creating a multi-year tailwind for order volume and sustained revenue growth.

Oshkosh's accelerating innovation in electric, hybrid, and autonomous vehicle technologies positions the company to win incremental business and command higher margins as customers shift toward sustainability and digital solutions.

Curious what earnings, margins, and future P/E the narrative needs to justify that fair value line? The entire case rests on a tight set of forecasts that could surprise you.

Result: Fair Value of $168.73 (UNDERVALUED)

However, you still need to watch for two pressure points: any shift in major government contracts and renewed tariff or supply chain cost headwinds that squeeze margins.

Next Steps

The story so far might sound promising, but the real question is how you weigh the trade offs yourself. It is worth looking through the data and forming your own view, starting with 3 key rewards and 1 important warning sign.

Looking for more investment ideas?

If Oshkosh has sharpened your focus on where capital can work harder, do not stop here. The screener can surface opportunities you might otherwise miss.

• Spot potential mispricings early by reviewing our 47 high quality undervalued stocks that pair stronger fundamentals with prices that still look reasonable.
• Build a steadier income stream by checking out 14 dividend fortresses, packed with companies offering yields of 5% or more.
• Prioritise resilience by sorting through 77 resilient stocks with low risk scores, highlighting businesses that score well on financial strength and risk metrics.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.