UPDATE: Morgan Stanley Reiterates Equal-Weight Rating, Raises PT on Joy Global to Reflect A/M Order Stability

Loading...
Loading...
In a report published Tuesday, Morgan Stanley analyst Nicole DeBlase reiterated an Equal-Weight rating on
Joy GlobalJOY
, 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.
Posted In: Analyst ColorPrice TargetAnalyst RatingsMorgan StanleyNicole Deblase
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...