- Joy Global (JOY) +1.1% premarket, following up on yesterday's 6.7% gain after reporting better than expected FQ2 earnings.
- Shares are upgraded to Buy from Neutral with a $70 price target at BofA/Merrill, which says it was encouraged by the increase in the company's service bookings despite a brutal coal operating environment.
- JOY's aftermarket business (70% of sales) is putting a floor under earnings, BofA says, and aftermarket orders were up 10% for the second quarter in a row.
- RBC raises its target price on JOY to $67 from $62.
at CNBC.com (Nov 5, 2014)