Deutsche Bank analyst Nicole Deblase downgraded Terex to Hold from Buy with an unchanged price target of $46. The stock has outperformed materially, gaining 13% in the past month versus 8% for its machinery peers, and has reached the current price target, Deblase tells investors in a research note. After reviewing her valuation methodology, the analyst sees little impetus to raise Terex forecasts or target multiple, leading to the decision to downgrade the stock. She sees limited upside potential from current share levels.
Published first on TheFly
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