- Blue Bird Corp. is the leading school bus manufacturer in the US that has developed an electric vehicle solution already available for large scale commercialization.
- With schools about to open up again, BLBD will face an explosion of pent-up demand for electric school buses.
- BLBD is significantly undervalued relative to EV peers and even more so as a reopening play.
- Biden’s 500,000 electric school buses in five years plan is a great opportunity for BLBD’s school bus niche.
- We think a narrative shift comparable to the contract that moved Workhorse’s valuation to $4B+ could move BLBD multiples higher.
