Jefferies Staying on the Sidelines with Joy Global (JOY)

Jefferies analyst Stephen Volkmann maintained a Hold rating and $55 price target on Joy Global (NYSE: JOY).

Volkmann said, "While EPS may be nearing a cycle bottom, the timing and slope of any upturn remains uncertain as mining capex plans continue to be pushed to the right. 2014 EPS guidance of $3.10-$3.50 on $3.6-$3.8bln in sales compares to Consensus of $3.29 on sales of $3.7bln. We believe a meaningful upturn before 2016 is unlikely."

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 $56.46 yesterday.

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