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 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.