Market Overview

UPDATE: JP Morgan Downgrades Terex to Neutral on Valuation

Share:
Related TEX
Wednesday's After-Hours Movers: Guess?, NQ Mobile And More
Barclays Boosts Price Targets For These 7 Stocks
Terex (TEX) Posts Q1 Loss on Lower Margins, Shares Fall - Analyst Blog (Zacks)

JP Morgan reduced its rating on Terex (NYSE: TEX) from Overweight to Neutral and reduced its price target from $27 to $26.

JP Morgan commented, "The stock is currently trading at 12.3x 2012E P/E, above the peer- group average of 9.8x. The shares have significantly outperformed YTD (up 75.6% vs. the S&P Machinery Sector up 9.3% and the S&P 500 up 17.8%) and we view the opportunity for additional upside as limited in the near-term. Used rental equipment prices have recently moderated (though they remain at relatively elevated levels), suggesting that an important end market for Terex' products may be slowing. While the outlook for NA construction remains positive, this is tempered by uncertainty in lack of visibility in Europe."

Terex closed at $23.72 on Monday.

Latest Ratings for TEX

DateFirmActionFromTo
Apr 2015BarclaysMaintainsOverweight
Feb 2015CitigroupMaintainsNeutral
Feb 2015Stifel NicolausMaintainsBuy

View More Analyst Ratings for TEX
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (TEX)

Around the Web, We're Loving...

Get Benzinga's Newsletters