Could Manitowoc Stock Gain Nearly 100% This Year? 1 Analyst Thinks So

Could Manitowoc Stock Gain Nearly 100% This Year? 1 Analyst Thinks So

Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope...

2017 has been a pretty good year for the stock market so far. To date, the S&P 500 is up over 10% -- but Manitowoc (NYSE: MTW) has entirely missed that rally. Entering the year just under $6 a share, stock in the crane maker initially surged to $7.50 thanks to early investor enthusiasm for industrials stocks under a Donald Trump presidency. But Manitowoc's given up all those gains since, and as of close of trading Tuesday, Manitowoc stock was trading back down at $5.71 a share -- down 3.5% for the year.

Can Manitowoc get its groove back? One analyst thinks so. Here are three reasons why.

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Source: Fool.com