GE (GE) Could Be Ready to Pounce on Joy Global (JOY) - Analyst
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Price: $55.42 -1.23%
Rating Summary:
9 Buy, 10 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
9 Buy, 10 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade JOY Now!
Speculators are buzzing about Joy Global, Inc. (NYSE: JOY) this morning following analyst commentary about a potential takeover by GE (NYSE: GE).
William Blair analyst Larry De Maria said GE buying Joy Global in medium term is "increasingly likely." De Maria's comments follow a Bloomberg article about expanding its mining unit.
"It is a good a time to be looking at acquisitions in a value sense," GE Mining CEO Geoff Knox "said in a telephone interview with Bloomberg. "We have to be targeted in buying into spaces that leverage what we already do. We want to use our current knowledge and add it to the product line we’re acquiring and make it smarter and more appealing."
Shares of JOY are up 1.5 percent early Monday. GE is down 0.7 percent.
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William Blair analyst Larry De Maria said GE buying Joy Global in medium term is "increasingly likely." De Maria's comments follow a Bloomberg article about expanding its mining unit.
"It is a good a time to be looking at acquisitions in a value sense," GE Mining CEO Geoff Knox "said in a telephone interview with Bloomberg. "We have to be targeted in buying into spaces that leverage what we already do. We want to use our current knowledge and add it to the product line we’re acquiring and make it smarter and more appealing."
Shares of JOY are up 1.5 percent early Monday. GE is down 0.7 percent.
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