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Stock Investors Bid Up Shares of Manitowoc, Up 2.0%

Published on Wed, 02/27/2013 - 13:29
By Peter Chu

Manitowoc (NYSE:MTW) is one of today's biggest movers, up 2.0% to $18.50. The Dow is up 0.9% to 14,029 and the S&P is currently up 1.0% to 1,512.

The Manitowoc Company, Inc. is a diversified industrial manufacturer of cranes and related products and foodservice equipment. The Company's products include lattice-boom cranes, tower cranes, mobile telescopic cranes, and boom trucks as well as ice making machines, refrigerators, and freezers.

Manitowoc share prices have moved between a 52-week high of $19.90 and a 52-week low of $9.60 and are now trading 93% above that low price at $18.50 per share. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.0%.

There is potential upside of 20.0% for shares of Manitowoc based on a current price of $18.50 and an average consensus analyst price target of $22.20. The stock should discover initial support at its 50-day moving average (MA) of $17.15 and subsequent support at its 200-day MA of $13.78.

By Peter Chu
pchu@fnno.com

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