Deutsche Bank Initiates Coverage on Terex Corp. (TEX)
Equities research analysts at Deutsche Bank assumed coverage on shares of Terex Corp. (NYSE:TEX) in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $52.00 price target on the stock. Deutsche Bank’s target price would indicate a potential upside of 23.46% from the stock’s previous close.
Shares of Terex Corp. (NYSE:TEX) opened at 42.12 on Thursday. Terex Corp. has a one year low of $25.60 and a one year high of $44.36. The stock has a 50-day moving average of $41.18 and a 200-day moving average of $36.14. The company has a market cap of $4.692 billion and a P/E ratio of 47.53.
Terex Corp. (NYSE:TEX) last released its earnings data on Tuesday, February 18th. 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. Analysts expect that Terex Corp. will post $2.80 EPS for the current fiscal year.
TEX has been the subject of a number of other recent research reports. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of Terex Corp. in a research note on Wednesday. They now have a $55.00 price target on the stock. Separately, 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. Finally, 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. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Terex Corp. currently has a consensus rating of “Hold” and a consensus price target of $44.83.
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.
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