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Fly News Breaks for February 1, 2016
URI, ALSN, JOY
Feb 1, 2016 | 05:51 EDT
Barclays analyst Robert Wertheimer upgraded Joy Global (JOY) to Overweight after raising his rating on the U.S. Machinery Industry to Neutral from Negative. The aftermarket portion of Joy's mining operation has "substantial value" if enough costs can be taken out, Wertheimer tells investors in a research note. He believes sentiment for the sector is at or near a bottom and keeps a $14 price target for the shares. Wertheimer remains positive on shares of Allison Transmission (ALSN) and United Rentals (URI).
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