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Fly News Breaks for January 4, 2016
DE, JOY
Jan 4, 2016 | 06:33 EDT
UBS analyst Steven Fisher downgraded Joy Global (JOY) to Sell saying his firm's mining and coal capital expenditure analysis indicates further declines in customer spending into FY17. Consensus estimates calling for an earnings inflection in FY16/FY17 is overly optimistic, Fisher tells investors in a research note. He cut his price target for Joy shares to $8 from $9. Fisher this morning also upgraded shares of Deere (DE) to Neutral.
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