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UPDATE: Morgan Stanley Reiterates on Joy Global to Reflect A/M Order Stability

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Commodity Value Decline Hurt Joy Global, Wall Street Opinions Mixed

In a report published Tuesday, Morgan Stanley analyst Nicole DeBlase reiterated an Equal-Weight rating on Joy Global (NYSE: JOY), and raised the price target from $54.00 to $58.00.

In the report, Morgan Stanley noted, “The highlight of JOY's F1Q14 results was a return to positive Y/Y growth in Service orders, for the first time since 2012; this trumped 1Q margin weakness. We tweak our FY14e up by 8% to $3.31, but still see minimal EPS growth potential in 2015e. With limited upside to our new $58 PT, reiterate EW.”

Joy Global closed on Monday at $55.43.

Latest Ratings for JOY

DateFirmActionFromTo
Mar 2015CitigroupMaintainsNeutral
Mar 2015Deutsche BankMaintainsHold
Mar 2015BarclaysMaintainsEqual-weight

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View the Latest Analyst Ratings

Posted-In: Morgan Stanley Nicole DeblaseAnalyst Color Price Target Analyst Ratings

 

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