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Joy Global Inc.

JOY position long Alex Roepers

Thesis

Joy Global is a leading manufacturer of coal-mining and surface mining equipment, which is essential as coal continues to provide a significant portion of electricity generation in the U.S. Despite current market weakness due to low natural gas prices, global coal demand is expected to grow, particularly in emerging economies like China and India. Joy Global's strong competitive position and recurring revenue from its installed base make it a solid long-term investment.

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