Terex price target raised to $72 from $56 at KeyBanc

KeyBanc analyst Steve Barger raised the firm’s price target on Terex to $72 from $56 and keeps an Overweight rating on the shares. The firm notes shares rallied following the company’s Q4 results and conference call. KeyBanc thinks the increase was due to solid order growth, record backlog, guidance, which came in above consensus, and management’s upbeat tone around early-2023 conditions and future opportunities.