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TEX

Terex

$23.89

-0.24 (-0.99%)

07:28
10/14/16
10/14
07:28
10/14/16
07:28

Terex upgraded to Buy from Underperform at BofA/Merrill

BofA/Merrill analyst Ross Gilardi upgraded Terex two notches to Buy from Underperform and raised its price target to $29 from $21 saying the $1.3B sale of its Material Handling and Ports Solutions, or MHPS, to Konecranes provides "unprecedented financial flexibility." Gilardi said Terex now has the capability to cope with weak operating conditions and expects further portfolio rationalization announcements over the next 3-6 months, and potentially even the divestiture of its remaining Construction assets.

TEX Terex
$23.89

-0.24 (-0.99%)

09/07/16
09/07/16
INITIATION

On The Fly: Top analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. Navistar (NAV) initiated with a Hold at Deutsche Bank. 2. Barrick Gold (ABX) initiated with a Sell at Berenberg while the firm initiated Randgold (GOLD), Kinross Gold (KGC), and Goldcorp (GG) with a Hold. 3. 3. After the close on Tuesday, Deutsche Bank analysts Nicole DeBlase, Saree Boroditsky, and Kevin Marek initiated the U.S. Machinery group with a "cautious view." Oshkosh (OSK), Caterpillar (CAT), and Wabtec (WAB) were initiated with Buy ratings at Deutsche Bank, while the firm initiated Cummins (CMI) and CNH Industrial (CNHI) with Sell ratings. The firm also initiated Deere (DE), AGCO (AGCO), Terex (TEX), PACCAR (PCAR), WABCO (WBC), and United Rentals (URI) with Hold ratings. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/26/16
WELS
09/26/16
NO CHANGE
WELS
Terex weakness creates buying opportunity, says Wells Fargo
Wells Fargo blames the 6.5% decline in Terex's stock Friday on Oshkosh's fiscal 2017 guidance. However, Wells says that 2017 consensus estimates for Terex already reflect revenue declines. Moreover, the firm says that the drop in the company's stock ignores the fact that it is selling some of its "lower return" discontinued operations and that the benefits from these sales are not included in consensus estimates. The firm says that the cash and marketable securities proceeds from such deals "appear to be equivalent to approximately 54% of current TEX equity market capitalization." Wells keeps an Outperform rating o nthe shares.
09/30/16
LYON
09/30/16
INITIATION
Target $30
LYON
Buy
Terex initiated with a Buy at CLSA
CLSA analyst Kristine Kubacki initiated Terex with a Buy and a $30 price target. Kubacki believes the new management team will aggressively pursue long overdue cost actions with respect to manufacturing footprint, portfolio rationalization and overhead, driving material earnings leverage when the cycle upswings.

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AKTS

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ATTO

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VSM

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