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U.S. Equity Research News
Brady Upgrades Manitowoc (MTW) to OUTPERFORM from MARKET PERFORM
October 30, 2009
Research analyst Charles Brady, who covers Diversified Industrials, has today upgraded Manitowoc (MTW) to an OUTPERFORM rating from MARKET PERFORM.
From Brady's note: "We believe crane orders have stabilized and cancellations are likely to be at much reduced levels than seen earlier in the year. We believe the Enodis integration continues to unfold as planned and that expected synergies will be achieved, which should result in margin expansion in 2010 and 2011. In addition, we believe the company remains on track to meet its goal of paying down at least $450 million in debt in 2009."
To receive a full copy of the note or for more information, please contact your BMO Capital Markets representative.
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