Barclays Defends Joy Global (JOY): Bar Reset...But It's a Positive Step

Article Related Articles (5) Stock Quotes (1) Comments (0)

Barclays maintains an 'Overweight' on Joy Global (NYSE: JOY) price target of $81.00 (from $88.00).

Analyst, Andy Kaplowitz, viewed Q3 as generally below expectations, but saw solid results in JOY's legacy business. JOY is well placed for solidly profitable results despite supply/demand imbalances and softer pricing in some commodity markets, but Barclays no longer sees year-over-year EPS growth.

FY12 EPS Estimate lowered from $7.20 to $6.87 and FY13 from $7.30 to $6.45.

For an analyst ratings summary and ratings history on Joy Global click here. For more ratings news on Joy Global click here.

Shares of Joy Global closed at $54.43 yesterday, with a 52 week range of $47.69-$96.00.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• UPDATE: Oppenheimer Upgrades GameStop (GME) to Outperform
• Price Stability for Micron (MU) Means a Higher Stock Price - Jefferies
• Terex (TEX) Suffers from Weakness in Europe; Read-Through For Manitowoc (MTW)

Create E-mail Alert Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Barclays

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?