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Fly News Breaks for August 2, 2017
MTW
Aug 2, 2017 | 08:00 EDT
Baird analyst Mircea Dobre upgraded Manitowoc (MTW) following Terex's (TEX) Q2 report and commentary that indicated its crane business may have turned the corner, with orders improving year-over-year, but also sequentially despite the tough Q1 comp. Dobre said global mobile crane volumes are near a cyclical trough and said Manitowoc has undertaken meaningful restructuring which should provide improved margins as volumes stabilize. The analyst raised his price target on Manitowoc shares to $10 from $6.
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