Avondale Partners recently initiated coverage on machinery stocks.
The firm gave Deere & Company DE , Joy Global Inc. JOY and Titan International Inc TWI Outperform ratings.
For Crane Co. CR , the experts issued a Market Perform rating, alleging the company is “not out of the storm yet.”
Avondale recently initiated coverage on four companies within
the machinery sector. Below is a closer look at what the firm had to
say.
Joy Global
On top of a Market Outperform rating, the analysts issued a six- to
12-month price target of $36 for Joy Global. They noted that this
quarter the shares have hit the firm’s key liquidation, capitulation and
valuation criteria. This has led them to take an incrementally positive
stance on the name.
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