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Fly News Breaks for October 21, 2015
MTW
Oct 21, 2015 | 07:18 EDT
As previously reported, Morgan Stanley downgraded Manitowoc to Equal Weight from Overweight and lowered its price target to $14 from $24. Analyst Nicole DeBlase said crane segment results continue to deteriorate, putting pressure on EBITDA forecasts. Management remains committed to the Q1 Foodservice spinoff, but DeBlase questions if this will enhance shareholder value given a reduction in SotP valuation.
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