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MTW appears to be resuming its primary bullish trend


Manitowoc Company (MTW) — This company operates in two segments, selling cranes and related products and foodservice equipment. The stock carries a “five-star strong buy” rating from S&P with a $40 12-month price target. S&P notes the recent pay down of about $1.4 billion in debt, and looks for earnings to increase from $1.14 per share in 2013 to $1.80 in 2014 and $2.25 in 2015.

MTW was highlighted by our Profit Scanner service with a trading target of $35 to $36.25. This powerful tool had led us to gains in the past.

Technically, MTW is indicating a resumption of the primary bullish trend. Upside volume is increasing, and on Friday, the stock closed above its 50-day moving average at $29.01.

Buy MTW at the market for a trade to $36 with a stop-loss at $27.

MTW Chart
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