Seeking Alpha

After 10% run-up, optimism may be priced into Joy Global’s shares

  • Joy Global (JOY) shares surged another 3.9% today to cap a 10%-plus two-day advance after above consensus FQ2 earnings and a BofA/Merrill upgrade, but not everyone is so enamored with the miner's outlook.
  • Raymond James analysts think recent optimism has been baked into the stock’s current price, which now trades at 15x estimated 2015 earnings, so they advise waiting for a more favorable valuation or a more concrete end market outlook.
  • Morgan Stanley is concerned about JOY's ability to achieve implied Q4 guidance - it says JOY would need to book more than $1B in orders in Q3 - and sees potential downside to 2015 consensus.
Comments (2)
  • BGDD
    , contributor
    Comments (73) | Send Message
     
    JOY is a long term play. For short term player it's time to get out.
    6 Jun, 05:22 PM Reply Like
  • dave403
    , contributor
    Comments (38) | Send Message
     
    sold half mine today... surprised we saw 64/share
    9 Jun, 03:17 PM Reply Like
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