Wells Fargo upgrades Manitowoc to Equal Weight, raises price target to $17

As previously reported, Wells Fargo analyst Seth Weber upgraded Manitowoc to Equal Weight from Underweight with a price target of $17, up from $14. The firm notes that recurring WF Crane Survey shows firming trends for a category that has lagged, but well positioned for infrastructure/stimulus-related projects. Manitowoc has the highest crane exposure in the group, Wells adds.