Market Overview

UPDATE: Goldman Sachs Upgrades The Manitowoc Company to Buy

Share:
Related MTW
Top 4 Mid-Cap Stocks In The Farm & Construction Machinery Industry With The Highest EPS
Morgan Stanley Still Loves Manitowoc; Here's Why
Manitowoc (MTW) to Face Persistent Headwinds in 2015 - Analyst Blog (Zacks)

Goldman Sachs has published a research report on The Manitowoc Company (NYSE: MTW) and has upgraded the company from Neutral to Buy and sees a 41% upside for the company.

In the report, Goldman Sachs writes, "We upgrade MTW to Buy as the stock's compelling trough valuation and the emerging US crane recovery trump our preference for high returns and recurring revenue businesses at this point in the cycle. We see 41% upside as we believe (1) the US crane capex recovery is emerging, with rising utilizations providing visibility on price and capex increases, (2) strong Food Service execution drives profitability at the trough and potential for further margin expansion, (3) downside for MTW's Europe business is limited with crane capex only 5% above trough, and (4) valuation is compelling with the stock trading at implied 5x 2012E Crane EV/EBITDA."

Goldman Sachs has lowered the price target from $17 to $15 on Manitowoc, which is currently trading up $0.30 from yesterday's $10.64 closing price.

Latest Ratings for MTW

DateFirmActionFromTo
Apr 2015RBC CapitalDowngradesOutperformSector Perform
Feb 2015CitigroupMaintainsNeutral
Jan 2015Deutsche BankMaintainsHold

View More Analyst Ratings for MTW
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Upgrades Price Target Analyst Ratings

 

Related Articles (MTW)

Around the Web, We're Loving...

Get Benzinga's Newsletters