Wells Fargo analyst Andrew Casey upgraded Terex Outperform saying the company is creating more value by revising the Konecranes deal and setting a timeline for Zoomlion to present a fully-financed binding offer. The analyst sees upside potential to $30-plus per share and potential temporary downside risk to $23 if Zoomlion does nothing by May 31. He raised his price target range for Terex shares to $27-$30 from $20-$23.

Reports Q1 revenue $1.3B, consensus $1.24B. "Terex delivered excellent first quarter results, achieving sales growth and margin expansion versus the prior year," said CEO Simon Meester. "The Terex team continues to perform at a high level and demonstrate the power of its focused strategy and its proven ability to create value. We are raising our full-year outlook to reflect our strong first quarter performance, while also prudently planning for continued softness in Europe over the balance of the year." Meester continued, "Overall, customer demand remains strong for Terex's differentiated products as evidenced by our robust backlog. In addition, we are advancing our new product initiatives to bolster the Company's portfolio of market-leading businesses that will continue to benefit from megatrends over the coming years. We are focused on accelerating our profitable growth strategy and are committed to delivering strong performance through the cycle."