Terex (TEX) PT Raised to $30 at Jefferies on Margin Expansion Opportunities

Jefferies analyst Stephen Volkmann raised the price target on Terex (NYSE: TEX) to $30.00 (from $25.00) after raising 2021/22 estimates to be 35% and 20% above consensus with the upside coming from margin expansion.

The analyst maintained a Buy rating, stating "We believe the margin expansion potential at TEX is not well understood and is largely independent of volume. TEX has lagged industrial peers YTD; our revised $30 price target represents ~50% potential upside".

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