Joy Global Catches Bearish Commentary from Two Analysts (JOY)

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Mining equipment maker Joy Global Inc. ( JOY ) received some negative sentiment on Friday from two major Wall Street firms, following Thursday's disappointing earnings report .

BMO Capital said it cut its price target on JOY to $90 and lowered its earnings estimates, citing a weak forecast and a higher tax rate.

Meanwhile, Jefferies & Co. maintained its "Hold" rating on JOY and cut its own target to $60. The firm also lowered its earnings estimates, citing weak order trends.

Joy Global shares, which closed at $55.86 on Thursday, fell $1.89, or -3.4%, in premarket trading Friday.

The Bottom Line
Shares of Joy Global ( JOY ) have a 1.19% dividend yield, based on last night's closing stock price of $59.05. The stock has technical support in the $50 price area. If the shares can firm up, we see overhead resistance around the $60-$65 price levels.

Joy Global Inc. ( JOY ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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