Goldman Sachs Upgrades Terex (TEX) to Buy

Goldman Sachs analyst Jerry Revich upgraded Terex (NYSE: TEX) from Neutral to Buy with a price target of $60.00 (from $45.00).

The analyst comments: "We upgrade TEX to Buy from Neutral as we believe (i) Aerials segment earnings are bottoming in 1Q amid a 30% production cut, as used inventories suggest an improving supply picture declining yoy for the first time since December 2022, (ii) tariff headwinds are now the base case in estimates, (iii) more balanced cyclical profile in this cycle as acquired Environmental Services Group acquisition is 25-30% of profits. One risk factor to the call would be tariffs on TEX's Mexico footprint where Terex ships under USMCA; based on TEX's prior disclosures, we calculate the headwind risk at ~$0.50."

For an analyst ratings summary and ratings history on Terex click here. For more ratings news on Terex click here.

Shares of Terex closed at $44.61 yesterday.

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