Hyster-Yale Materials initiated with an Outperform at Northland

Northland analyst Ted Jackson initiated coverage of Hyster-Yale Materials with an Outperform rating and $80 price target. The “established leading global provider” of lift trucks and lift truck attachments also operates a fuel cell developmental company, Nuvera. While current revenue generation from this business is “immaterial,” the firm sees it as “a low-priced call option on an exciting market,” the analyst tells investors.