Why Manitowoc Company Stock Just Jumped 15%
Shares of erstwhile refrigerator manufacturer, now crane-maker, Manitowoc (NYSE: MTW) are up 15% as of 2:35 p.m. EDT.
Manitowoc shareholders can thank Wall Street analyst R.W. Baird for the helping hand. Earlier today, Baird announced it is upgrading Manitowoc shares ahead of Monday's expected earnings report. With Manitowoc stock selling for less than $6 a share before the upgrade, Baird posited a target price for the shares of $10 -- nearly a 100% potential profit for new investors.
What makes Baird so optimistic? In a word: Terex (NYSE: TEX).
Source: Fool.com
Terex Corp. Stock
€59.00
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With 12 Buy predictions and not the single Sell prediction the community is currently very high on Terex Corp..
As a result the target price of 68 € shows a slightly positive potential of 15.25% compared to the current price of 59.0 € for Terex Corp..
