Why Manitowoc Company Stock Just Jumped 15%

Why Manitowoc Company Stock Just Jumped 15%

Shares of erstwhile refrigerator manufacturer, now crane-maker, Manitowoc (NYSE: MTW) are up 15% as of 2:35 p.m. EDT.

Manitowoc shareholders can thank Wall Street analyst R.W. Baird for the helping hand. Earlier today, Baird announced it is upgrading Manitowoc shares ahead of Monday's expected earnings report. With Manitowoc stock selling for less than $6 a share before the upgrade, Baird posited a target price for the shares of $10 -- nearly a 100% potential profit for new investors.

What makes Baird so optimistic? In a word: Terex (NYSE: TEX).

Continue reading

Source: Fool.com