Manitowoc price target raised to $22 from $17 at Baird

Baird analyst Mircea Dobre raised the firm’s price target on Manitowoc to $22 from $17 and keeps a Neutral rating on the shares. The firm noted that Q2 results were higher than expectations, with sales up 21.2% year-over-year and EBITD margin of 10%, highest since 2Q19. Baird recognizes improved execution but for now chooses to remain on the sidelines.