UBS Remains Sidelined on Terex (TEX) - PT to $25
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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.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesUBS, Earnings
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