Truist analyst Jamie Cook lowered the firm’s price target on Terex to $63 from $74 and keeps a Buy rating on the shares. More than half of the company’s guidance cut was related to the AWP segment in North America as Europe is already weak and as rental customers continue to manage capex proactively given softer demand, the analyst tells investors in a research note. Truist adds however that the debate continues as to whether this is a mid-cycle slowdown – reflecting normalization of supply chain and inventory destock coupled with lower interest rate – or a more prolonged downturn.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TEX:
- Terex price target lowered to $62 from $72 at Goldman Sachs
- Terex price target lowered to $63 from $67 at Baird
- Terex lowers FY24 adj EPS view to $5.80-$6.20 from $7.15-$7.45, consensus $7.17
- Terex announces expiration of waiting period for acquisition of ESG from Dover
- Terex Announces Expiration of the Waiting Period Under the HSR Act for Proposed Acquisition of Environmental Solutions Group (ESG) from Dover Corporation