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UPDATE: Stifel Upgrades Terex Corporation As Pullback Leads To Buying Opportunity

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In a report published Tuesday, Stifel analyst Stanley Elliott upgraded the rating on Terex Corporation (NYSE: TEX) from Hold to Buy, and named a $40.00 price target.

In the report, Stifel noted, “Following the lowered full year expectations and subsequent pullback in the shares, we are upgrading Terex from Hold to Buy and establishing a $40 target price. Our feeling is that expectations have been sufficiently reset, which should allow for this later cycle name to outperform as end markets continue to firm into 2015 and beyond. While demand conditions remain mixed, we believe the market has already discounted end market uncertainty. Shares of Terex declined over 27% since this past April compared to a 5% gain in the S&P. We view the risk/reward scenario favorably at these levels and are upgrading shares to Buy.”

Terex Corporation closed on Monday at $32.47.

Latest Ratings for TEX

DateFirmActionFromTo
Jan 2021Morgan StanleyMaintainsEqual-Weight
Dec 2020BarclaysUpgradesUnderweightEqual-Weight
Dec 2020Morgan StanleyMaintainsEqual-Weight

View More Analyst Ratings for TEX
View the Latest Analyst Ratings

 

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Posted-In: Stanley Elliott StifelAnalyst Color Upgrades Analyst Ratings

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