Terex price target lowered to $57 from $60 at Citi

Citi lowered the firm’s price target on Terex to $57 from $60 and keeps a Neutral rating on the shares. The firm reduced estimates due to lower assumptions for access equipment sales and margins. While Terex shares “are starting to look cheap” after the guidance cut, Citi prefers to remain on the sidelines pending more clarity on the guidance cut and a better idea of the company’s through-cycle growth and margin potential, the analyst tells investors in a research note.