Shares of Manitowoc (NYSE:MTW) dropped 3.5% after Wells Fargo initiated coverage with an ‘Underweight’ rating and $9.00 price target. European industry members filed a complaint with the European Commission regarding an influx of mobile cranes from China. Market volatility suggests news impact is not fundamental. Manitowoc is up 24.2% YTD but still 17.5% below its 52-week high. Investors from 5 years ago would see a slight loss. Market optimism rose with a potential end to a 40-day government shutdown. Is now the time to buy Manitowoc?

Read more at Barchart: Manitowoc (MTW) Stock Trades Down, Here Is Why