Will This Price Target Decrease Hurt Joy Global (JOY) Stock Today?

Story updated at 9:50 a.m. to reflect market activity.

NEW YORK (TheStreet) -- Raymond James  (RJF) lowered its price target for Joy Global (JOY) to $50 Friday, reiterating its "market perform" rating.

Shares of Joy Global were falling -0.1% to $60.46 in morning trading.

The analyst firm also lowered its EPS estimates for the mining equipment manufacture following the company's lower 2015 guidance.

Watch the video below for a look at Joy Global's latest quarterly results:


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Separately, TheStreet Ratings team rates JOY GLOBAL INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

"We rate JOY GLOBAL INC (JOY) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share."

You can view the full analysis from the report here: JOY Ratings Report

JOY Chart JOY data by YCharts

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