UPDATE: Stifel Nicolaus Initiates Terex at Buy on Strong Market Share Positions
In a report published Wednesday, Stifel Nicolaus analyst Stanley Elliott initiated coverage on Terex (NYSE: TEX) with a Buy rating and $44.00 price target.
In the report, Stifel Nicolaus noted, “We are initiating coverage of Terex Corporation with a Buy rating on the shares and a $44 target price. Terex manufactures specialized machinery and capital goods products globally. The company has transformed itself into a leading solutions provider for customers with lifting and material handling needs. Terex garners strong market share positions across most of its businesses in which it operates. Historically, acquisitions served as a key growth vehicle for the company, accounting for nearly 90% of the current enterprise. With a more balanced portfolio now in place, Terex has shifted focus toward improving existing operations. Terex is expected to continue to integrate and realign certain businesses as part of the operations goal, while focusing the entire enterprise on profitable growth and cash generation in the coming upcycle.”
Terex closed on Tuesday at $33.61.
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