Thursday, March 03, 2011 10:47:25 AM
In a note to clients, Sterne Agee writes, "Our $98 target is based on our updated FY12E estimate of $6.20 (up from $6.00) and assumes shares trade at 15.8X earnings. Our 2011E estimate increases to $5.30 from $5.15. While we believe that JOYG's fundamentals are by and large positive for both original equipment and aftermarket given the large installed base and prospects for increased utilization, we maintain our Neutral rating primarily on valuation."
Source:
http://www.benzinga.com/analyst-ratings/analyst-color/11/03/900342/update-sterne-agee-raises-pt-on-joy-global-to-98-joyg#ixzz1FYHY5RMt
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