Jefferies downgraded Terex to Hold from Buy with a price target of $63, down from $73. The industrial economy powered through 2023 with strong earnings and solid order trends, but for 2024, “multiples may prove more important than earnings,” says the analyst, who cites limited cycle upside for the downgrade of Terex.
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Read More on TEX:
- Fly Insider: Terex, Asbury Automotive Group among week’s notable insider trades
- Terex director David Sachs buys over $2.5M in company shares
- Terex price target lowered to $56 from $63 at JPMorgan
- Terex price target lowered to $52 from $55 at Baird
- Terex raises FY23 EPS view to about $7.05 from about $7.00, consensus $7.15
