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UPDATE: Rodman & Renshaw Raises Price Target on Manitex to $10

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According to Rodman & Renshaw, Manitex International (NASDAQ: MNTX) price target is raised to $10.

Rodman & Renshaw said that it is raising its estimates for Manitex International due to what it believes are increasingly favorable trends in the company's key end markets, particularly in oil & gas. “We think that strong bookings momentum, which has lead to 7 consecutive quarters of robust backlog growth, has continued into Q1'12 and is likely to continue through 2012, leading to significant top-line growth both this year and in 2013.”

Manitex International closed yesterday at $6.62.

Posted-In: Rodman & RenshawAnalyst Color Price Target Analyst Ratings

 

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