Manitowoc (MTW) Misses Q4 EPS by 7c

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Go back to Manitowoc (MTW) Misses Q4 EPS by 7c

Manitowoc (MTW) Price Target Raised to $23 at Deutsche Bank; Analyst Maintains Hold Rating

January 30, 2015 10:09 AM EST

Deutsche Bank maintained a Hold rating on Manitowoc (NYSE: MTW) and raised its price target to $23.00 (from $20.00). Yesterday it announced a spin off of its foodservices business.

"Our SOTP analysis suggests that these companies would be worth $23-28 on a standalone basis,... More

Manitowoc (MTW) to Split Into Two Separate Companies

January 29, 2015 4:03 PM EST

Manitowoc (NYSE: MTW) Announced that its Board of Directors has approved a plan to pursue a separation of the Company's Cranes and Foodservice businesses into two independent, publicly-traded companies. The Company currently anticipates effecting the separation through a tax-free spin-off of the Foodservice business and expects the spin-off to be completed in the first quarter of 2016, creating two separate, industry-leading companies with distinct enterprise strategies.

Manitowocs management team and our Board of Directors regularly evaluate and explore opportunities to optimize the Companys performance and create value for shareholders, commented Glen E. Tellock,... More