More pain ahead for Joy, Goldman says in cutting shares to Sell

|About: Joy Global Inc. (JOY)|By:, SA News Editor

More on Joy Global's (JOY -1.5%) downgrade to Sell at Goldman Sachs: The firm sees "significant commodity and equipment over-supply driving medium-term growth headwinds," and expects mining capex budgets will remain under pressure longer than the stock is discounting today, trading at a 30%-40% premium to machinery peers on 2014-15 P/E.

Other global machinery makers are showing minimal movement: CAT -0.1%, EXP +0.8%, GVA +0.2%, DE +0.4%.