JPMorgan lowered the firm’s price target on Manitowoc to $15 from $17 and keeps a Neutral rating on the shares ahead of the Q1 report. Construction data points are mixed, but demand commentary from manufacturers is generally optimistic, the analyst tells investors in a research note. The firm says a weak Europe and growing price-competition “set up for an uninspiring” fiscal 2024 for Manitowoc.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>