JPMorgan downgraded Terex (TEX) to Neutral from Overweight with an unchanged price target of $63. The analyst sees limited upside to Street estimates in 2024 and 2025 as the company indexes higher versus Oshkosh (OSK) to Europe, which remains weak. The stock has outperformed since January 2022, creating a balanced risk/reward at these levels, the analyst tells investors in a research note.
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