Terex price target raised to $80 from $72 at KeyBanc

KeyBanc analyst Steve Barger raised the firm’s price target on Terex to $80 from $72 and keeps an Overweight rating on the shares. The firm notes Terex reported strong Q2 results, and for the second time this year raised its guidance above both current and forward-year consensus. The company’s backlog remains at near-record level, and KeyBanc thinks it has a path to multi-year growth due to equipment requirements supporting global spending on megatrends, including Infrastructure, Green Energy, Digitization, and Urbanization, among other things.