After Zoomlion decided to terminate its $32 per share offer for all outstanding Terex (TEX) shares, Stifel notes that Konecranes decided to proceed with its acquisition of Terex's Material Handling and Port Solutions, or MHPS, business. The firm says that the MHPS deal creates value for Terex shareholders,. The firm thinks that the 25% stake in Konecranes will allow Terex shareholders to participate in the recovery, while the company will also benefit from synergies and see a minimum 100 basis point increase in its pro forma EBIT margins. Additionally, Stifel thinks the deal will allow the company to restart share purchases. It trimmed its price target on the name to $25 from $30 but keeps a Buy rating.

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."