Seeking Alpha

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

  • 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%.
Comments (3)
  • BAHAMAS1
    , contributor
    Comments (3308) | Send Message
     
    After they have bought up their position for themselves and their big clients ,Goldman will put a Buy on JOY within next 3 months.
    3 Jan 2014, 12:12 PM Reply Like
  • Fernando6
    , contributor
    Comments (49) | Send Message
     
    Of course they will cover first the short position they have build in order to bring down the shares and then proceed like you said :-)). As usual
    3 Jan 2014, 12:34 PM Reply Like
  • TheGreatOne
    , contributor
    Comments (57) | Send Message
     
    you beat me to it! totally agree. love this company and when the mining sector gets out of the doldrums, this company will soar.
    3 Jan 2014, 01:04 PM Reply Like
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