Although Alamo's agriculture business has shown signs of stabilization, the market remains challenging and recent industry data points and escalating trade tensions with China make us more cautious in our outlook for a recovery next year. With orders and revenue appearing to have bottomed out, we still think the Vegetation Management segment can still return to growth next year; but we are lowering our 2026 revenue forecast for the segment and our EPS estimate. Absent a strong rebound in the agriculture and forestry markets next year, we note management has taken actions to improve the Vegetation Management margins, much of which has yet to be realized. Alamo's balance sheet remains in strong shape, with net debt of just $11.3 million, down $164 million from a year ago. We lower our price target to $243 (from $252), based on a steady 20x our new 2026 EPS estimate of $12.16 (from $12.62) and maintain our Moderate risk rating.