UBS Remains Sidelined on Terex (TEX) - PT to $25
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
UBS reiterated a Neutral rating on Terex (NYSE: TEX), and cut the price target to $25.00 (from $21.00), following the company's earnings call.
Analyst Steven Fisher commented, "We estimate that the aggregate cost reduction plans discussed by TEX on its 8/2/16 earnings call could amount to $0.50/sh by 2018. We think the cost cuts could be partially offset by rising raw material costs and pricing headwinds, but the plan represents a significant portion of the 2018 consensus earnings estimate of $1.66/sh. Additionally, we think the mid-cycle margin profile could look substantially improved after the divestiture of MHPS and the German compact construction business."
Shares of Terex closed at $23.84 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UBS Cuts Price Target on Restoration Hardware (RH) to $34 Following 3Q
- Jefferies Raises Price Target on Finisar (FNSR) to $37 Following 2Q Beat and Raise
- Jefferies Adjusts Estimates on Ciena (CIEN) - PT to $29
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesUBS, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!