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Fly News Breaks for May 9, 2018
MTW
May 9, 2018 | 07:45 EDT
RBC Capital analyst Seth Weber lowered his price target on Manitowoc to $40 and kept his Outperform rating after its Q1 results. The analyst notes that while the company beat on earnings and saw another quarter of order growth, the outlook for forward margins was disappointing. Longer term, Weber says his positive investment thesis is intact with opportunity for volume and operating improvements "closing the gap" on the levels seen in the prior peak.
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