Manitowoc price target raised to $11 from $9 at Barclays

Barclays analyst Adam Seiden raised the firm’s price target on Manitowoc (MTW) to $11 from $9 and keeps an Underweight rating on the shares as part of a Q2 preview for the machinery and construction group. The firm sees a high bar for the sector after a quarter of share outperformance. Investors are skewed away from aggregates and agriculture and more positive on machinery and construction, the analyst tells investors in a research note.