Hyster-Yale rises after Northland upgrades to 'outperform'

Hyster-Yale

05/06/2024 15:02

** Lift trucks maker Hyster-Yale's shares  HY.N  rise 2.5%
to $71.08 in early trading 
    ** Northland Capital upgrades HY to "outperform" from
"market perform"
    ** Maintains PT of $90, representing a ~30% upside to the
stock's last close
    ** Says co's shares have declined more than 10% since they
last lowered its rating on valuation, hence, bringing HY to an
attractive level
    ** "Our channel checks suggest that underlying fundamentals
remain intact, and we sense the quarter is tracking to plan." -
brokerage
    ** One brokerage rates the stock "buy" and one "hold"; their
median PT is $88.50 - LSEG data
    ** Stock had risen 14% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))