Manitowoc price target raised to $21 from $11 at Citi

Citi analyst Timothy Thein raised the firm’s price target on Manitowoc to $21 from $11 and keeps a Neutral rating on the shares. The company :sharply stronger-than-expected" Q4 results and a higher ending backlog, the analyst tells investors in a research note. The firm sees a stronger outlook for Manitowoc supported by infrastructure and commodity-based spending tailwinds, but says the stock’s recent outperformance has limited the near-term upside potential.