Barclays Maintains an 'Overweight' on Joy Global (JOYG); Still Good Visibility Toward Longer Term Growth
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Price: $89.65 --0%
Rating Summary:
1 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
1 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Barclays maintains an 'Overweight' on Joy Global (NASDAQ: JOYG) price target of $112.00.
Barclays analyst says, "JOYG remains one of our top machinery picks after recently meeting with management. We think a combination of still solid mining-related capex spending, JOYG's continued focus on growing its aftermarket business, and continued productivity improvement should drive JOYG's backlog/earnings over the longer term despite current global economic uncertainty."
"JOYG still seems to have significant productivity improvements ahead in its factories despite its focus on its operational excellence program to date. For instance, we think JOYG could still get up to 20% more revenue/employee per year in its main Milwaukee facility over the next couple of years."
For more ratings news on Joy Global click here and for the rating history of Joy Global click here.
Shares of Joy Global closed at $77.76 yesterday.
Barclays analyst says, "JOYG remains one of our top machinery picks after recently meeting with management. We think a combination of still solid mining-related capex spending, JOYG's continued focus on growing its aftermarket business, and continued productivity improvement should drive JOYG's backlog/earnings over the longer term despite current global economic uncertainty."
"JOYG still seems to have significant productivity improvements ahead in its factories despite its focus on its operational excellence program to date. For instance, we think JOYG could still get up to 20% more revenue/employee per year in its main Milwaukee facility over the next couple of years."
For more ratings news on Joy Global click here and for the rating history of Joy Global click here.
Shares of Joy Global closed at $77.76 yesterday.
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