Baird lowered the firm’s price target on Terex to $63 from $67 and keeps a Neutral rating on the shares after the company reduced full-year EPS guidance to 18% below current consensus at the midpoint and revenues to 4% below current consensus at the midpoint. The cut is “unsurprising,” says the firm, which notes it has argued for the need to lower production given weak order trends and backlog erosion, adding that rebasing 2025 AWP and MP segment expectations is “needed before we can get more aggressive.”
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