UPDATE: Jefferies Downgrades Joy Global (JOY) to Hold On Valuation

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February 9, 2012 7:09 AM EST
Get Alerts JOY Hot Sheet
Price: $28.30 --0%

Rating Summary:
    3 Buy, 19 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 8 | Down: 5 | New: 26
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Jefferies downgraded Joy Global (NYSE: JOY) from Buy to Hold with a price target of $90 (down from $100).

The firm comments, "We are downgrading the shares of JOY to Hold from Buy as the company has essentially met our price target. JOY stock has appreciated nearly 50% since the October lows. We trim our EPS estimates and price target slightly to account for potential negative margin mix as high-margin CAPP underground parts and service revenues could face some near-term challenges."

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 $89.70 yesterday.

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