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Joy Global, Inc. Message Board

  • lulunite lulunite Aug 29, 2011 11:35 AM Flag

    Barclays Maintains an 'Overweight' on Joy Global; Remains a Top Pick Heading Into Q3

    Barclays Maintains an 'Overweight' on Joy Global (JOYG); Remains a Top Pick Heading Into Q3

    August 26, 2011 1:00 PM EDT

    Barclays maintains an 'Overweight' on Joy Global (NASDAQ: JOYG), lowers price target by $2 to $112.

    Barclays analyst says, "Joy Global remains one of our favorite names under our coverage going into FY3Q earnings. We think the company's outlook remains favorable with significant expected demand for equipment coming from large miners' capex plans in 2011 and 2012 and what we believe will be continued improvement in margins based on a good pricing environment and continuing operational improvements."

    "We are updating our FY3Q and FY11 EPS forecasts to $1.48 and $5.50,
    respectively (from $1.50 and $5.60) to reflect the acquisition of LeTourneau and related purchase accounting expenses...We raise our JOYG 2012 EPS estimate to $7.00 from $6.70 given expected accretion from LeTourneau..."

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