Morgan Stanley (NYSE:MS) Says Sell Joy Global (Nasdaq:JOYG)

A day after Morgan Stanley (NYSE:MS) suggested to shareholders they should sell shares in Joy Global (Nasdaq:JOYG), they've quickly rebounded, and are up over 1 percent in trading on the day so far.

Joy Global competes with Bucyrus (Nasdaq:BUCY), which Caterpillar (NYSE:CAT) is acquiring, generating the concerns over Joy's ability to compete.

Morgan Stanley cut their rating on Joy from "Equalweight" to "Underweight," although others have had a more positive response, like RBC Capital, which raised their price target on them.

Morgan Stanley analyst Robert Wertheimer, “BUCY had already been selling bundled product against JOYG,” wrote Wertheimer, and “with Cat’s added product and service expertise, the intensity will be higher. We see increased difficulty in meeting consensus estimates.”

Joy was trading at $75.25, gaining $0.73, or 0.98 percent at 2:56 PM EST.