Barclays Reiterates an 'Overweight' on Joy Global (JOYG); FY4Q11 Review: Cautious Management Tone but Still Positive Long-Term View
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Price: $89.65 --0%
Rating Summary:
1 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays reiterates an 'Overweight' on Joy Global (NASDAQ: JOYG) price target lowered from $112 to $109.
Barclays analyst says, "JOY reported FY4Q11 results that we view as solid and largely in line with our (and consensus) expectations. While the stock sold off on a more cautious tone from management (-10.8% vs. S&P500 -1.1%), we view the commentary as in line with our view of mining markets that may be temporarily slowing but remain solid over the longer term given tight mine capacity and expected long-term growth in emerging markets such as China and India. In addition, with incremental margins excluding LeTourneau well above the company's mid 20% target, we view the quarter as representative of our thesis of JOY as a company with a strong operating culture/ability to execute and reiterate our rating."
Barclays raises FY12 EPS estimate from $7.00 to $7.25.
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 $89.65 yesterday.
Barclays analyst says, "JOY reported FY4Q11 results that we view as solid and largely in line with our (and consensus) expectations. While the stock sold off on a more cautious tone from management (-10.8% vs. S&P500 -1.1%), we view the commentary as in line with our view of mining markets that may be temporarily slowing but remain solid over the longer term given tight mine capacity and expected long-term growth in emerging markets such as China and India. In addition, with incremental margins excluding LeTourneau well above the company's mid 20% target, we view the quarter as representative of our thesis of JOY as a company with a strong operating culture/ability to execute and reiterate our rating."
Barclays raises FY12 EPS estimate from $7.00 to $7.25.
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 $89.65 yesterday.
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