UPDATE: Morgan Stanley Reiterates on Terex Ahead of Earnings Call
In a report published Wednesday, Morgan Stanley analyst Nicole DeBlase reiterated an Overweight rating on Terex (NYSE: TEX), but removed the $55.00 price target.
In the report, Morgan Stanley noted, “TEX reported Headline EPS of $0.65, above $0.57 MSe and $0.49 cons. While a lower tax rate helped ($0.10 upside vs. MSe), core segment income of $140m represented a $0.07 beat vs. MSe. Management initiated FY14 guidance of $2.50-2.80, putting cons near the high-end on an apples/apples basis.”
Terex closed on Tuesday at $43.94.
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