Terex Corp. Given Overweight Rating at Morgan Stanley (TEX)
Terex Corp. (NYSE:TEX)‘s stock had its “overweight” rating reaffirmed by analysts at Morgan Stanley in a research report issued to clients and investors on Wednesday, StockRatingsNetwork.com reports. They currently have a $55.00 target price on the stock. Morgan Stanley’s target price points to a potential upside of 25.17% from the stock’s previous close.
The analysts wrote, “TEX reported Headline EPS of $0.65, above $0.57 MSe and $0.49 cons. While a lower tax rate helped ($0.10 upside vs. MSe), core segment income of $140m represented a $0.07 beat vs. MSe. Management initiated FY14 guidance of $2.50-2.80, putting cons near the high-end on an apples/apples basis.”
Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of Terex Corp. from a “neutral” rating to an “outperform” rating in a research note on Friday, January 17th. They now have a $50.00 price target on the stock. Separately, analysts at Barclays raised their price target on shares of Terex Corp. from $40.00 to $51.00 in a research note on Monday, January 13th. They now have an “overweight” rating on the stock. Finally, analysts at Jefferies Group initiated coverage on shares of Terex Corp. in a research note on Tuesday, January 7th. They set a “hold” rating on the stock. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $43.09.
Shares of Terex Corp. (NYSE:TEX) opened at 43.94 on Wednesday. Terex Corp. has a 1-year low of $25.60 and a 1-year high of $44.36. The stock has a 50-day moving average of $41.03 and a 200-day moving average of $35.73. The company has a market cap of $4.895 billion and a price-to-earnings ratio of 48.20.
Terex Corp. (NYSE:TEX) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.04. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.81 billion. On average, analysts predict that Terex Corp. will post $2.13 earnings per share for the current fiscal year.
Terex Corporation is a diversified global equipment manufacturer of machinery products. The Company is focused on delivering reliable, customer-driven solutions for a wide range of commercial applications, including the construction, infrastructure, quarrying, mining, manufacturing, shipping, transportation, refining, energy and utility industries.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.