Shares of Titan International (NYSE:TWI) surged Wednesday as Morgan Joseph upgraded them from "Hold" to "Buy," citing the progress of the company isn't priced into the shares.
"While currently trading at about 19x our estimate for 2011 EPS, Titan's shares do not appear to reflect certain qualitative positives. We believe the company could produce profits of $1.20 per share in 2012, in light of the initiatives underway (e.g., expansion into Brazil and Europe, growth of the mining-truck tire business and turnaround of construction equipment)," Morgan said.
"We are adjusting our Q3 and Q4 estimates from $0.19 and $(0.04) to $0.09 and $0.06, respectively, to better reflect our latest views on the timing for revenues and expenses. As a result, our 2010 EPS estimate moves up to $0.33 from $0.30. For 2011, we project EPS more than doubling to $0.75."
Titan closed at $15.07, soaring $0.84, or 5.90 percent. Morgan Joseph has a price target of $18 on the company.
Showing posts with label Morgan Joseph. Show all posts
Showing posts with label Morgan Joseph. Show all posts
Thursday, October 7, 2010
Tuesday, September 21, 2010
Morgan Joseph Downgrades Monsanto (NYSE:MON)
Monsanto (NYSE:MON) was slashed by Morgan Joseph from "Buy" to "Hold," not long after they had reiterated a "Buy" on the company in the early part of September.
The seed company had been doing fairly well in the Monday session before the downgrade, which brought them into negative territory soon after.
Monsanto closed Monday at $55.54, down $0.68, or 1.23 percent.
Volume was about a million above the 3-month average, hitting 7,733,725.
The seed company had been doing fairly well in the Monday session before the downgrade, which brought them into negative territory soon after.
Monsanto closed Monday at $55.54, down $0.68, or 1.23 percent.
Volume was about a million above the 3-month average, hitting 7,733,725.
Thursday, September 2, 2010
Morgan Joseph Maintains "Buy" on Monsanto (NYSE:MON)
Morgan Joseph reiterated its "Buy" rating on Monsanto (NYSE: MON), while having a price target of $60 on the seed company.
"We believe any weakness in Monsanto's share price, as we witnessed this week, is a great opportunity to buy this unusual stock, as, in our thinking, not only has management overcome a lot of bad news, but it has also developed a dramatic line of growth into the future," said a Morgan analyst.
Revenue doesn't seem to be the problem, but margins and earnings, as pressures on Roundup from patents ending, along with being forced to lower new seed product prices in response to outcry's from farmers, and Dupont (NYSE:DD) marketing their seeds as low-cost alternatives.
Another factor is the cost of research in development, which is the key to future success for Monsanto, but which also cuts into margins and earnings as well.
DuPont is putting the question in the minds of farmers whether or not that added traits of Monsanto seeds are worth the additional costs.
"We believe any weakness in Monsanto's share price, as we witnessed this week, is a great opportunity to buy this unusual stock, as, in our thinking, not only has management overcome a lot of bad news, but it has also developed a dramatic line of growth into the future," said a Morgan analyst.
Revenue doesn't seem to be the problem, but margins and earnings, as pressures on Roundup from patents ending, along with being forced to lower new seed product prices in response to outcry's from farmers, and Dupont (NYSE:DD) marketing their seeds as low-cost alternatives.
Another factor is the cost of research in development, which is the key to future success for Monsanto, but which also cuts into margins and earnings as well.
DuPont is putting the question in the minds of farmers whether or not that added traits of Monsanto seeds are worth the additional costs.
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