UBS Lowers PT and Estimates on Joy Global (JOY); Continued Headwinds for U.S. Coal
Tweet
Share
E-mailGet Alerts JOY Hot Sheet
Price: $28.30 --0%
Rating Summary:
3 Buy, 19 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 18 | New: 16
Rating Summary:
3 Buy, 19 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 18 | New: 16
Join SI Premium – FREE
UBS maintains a 'Neutral' on Joy Global (NYSE: JOY) price target cut from $85 to $78.
Analyst, Henry Kirn, said, "To reflect more cautious expectations for JOY’s US coal business, we are lowering our 2012, 2013 & 2014 EPS estimates to $7.50, $8.25 & $8.70, respectively, from $7.55, $8.35 & $8.80, previously. Our model includes overall US coal demand down ~4% in 2012 & ~9% in 2013 (previously down ~2% in 2012 and ~7% in 2013)."
"While JOY is well managed with strong market shares, high aftermarket exposure, sector-high margins and has a potential M&A catalyst, our rating reflects potential headwinds to estimates and investor sentiment."
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 $71.43 yesterday.
Analyst, Henry Kirn, said, "To reflect more cautious expectations for JOY’s US coal business, we are lowering our 2012, 2013 & 2014 EPS estimates to $7.50, $8.25 & $8.70, respectively, from $7.55, $8.35 & $8.80, previously. Our model includes overall US coal demand down ~4% in 2012 & ~9% in 2013 (previously down ~2% in 2012 and ~7% in 2013)."
"While JOY is well managed with strong market shares, high aftermarket exposure, sector-high margins and has a potential M&A catalyst, our rating reflects potential headwinds to estimates and investor sentiment."
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 $71.43 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- HSBC Downgrades Feng Tay Enterprises (9910:TT) to Hold
- Canfor Pulp Products (CFX:CN) (CFPUF) PT Raised to Cdn$2.75 at Raymond James
- London Stock Exchange Group Plc. (LSEG:LN) (LNSTY) PT Raised to GBP88 at HSBC
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst PT ChangeRelated Entities
UBSSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
