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Fly News Breaks for June 21, 2018
TEX
Jun 21, 2018 | 06:25 EDT
Jefferies analyst Stephen Volkmann upgraded Terex to Buy from Hold and raised his price target for the shares to $50 from $45. Terex has underperformed both the S&P 500 Index and machinery peers year-to-date despite improving backlog and visibility into 2019, Volkmann tells investors in a research note. He believes the company has "significant internal margin opportunities" and that cranes will grow in 2019. Further, Terex's internal efforts and share repurchases can boost earnings growth beyond current consensus, the analyst adds.
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