UBS Maintains a 'Neutral' on Terex (TEX); Adjusting Estimates and Price Target
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Price: $64.20 -0.62%
Rating Summary:
12 Buy, 16 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
12 Buy, 16 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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UBS maintains a 'Neutral' on Terex (NYSE: TEX), PT lowered from $40 to $29.
UBS analyst said, "While our channel checks remain strong, recently spotty macro data could cause crane buyers to delay purchases. Given this uncertainty, we are lowering our price target on Terex. Our price target now reflects a lower premium to the market, as well as less excess cash given uncertainty surrounding the proposed acquisition of Demag Cranes."
"Given the strength of our channel checks we maintain our 2012 and 2013 EPS estimates of $2.30 and $3.70, respectively. That said, we are lowering our 2011 estimate to $0.75, from $1.00, reflecting a less robust 2011 rebound in Crane."
For more ratings news on Terex click here and for the rating history of Terex click here.
Shares of Terex closed at $25.87 yesterday.
UBS analyst said, "While our channel checks remain strong, recently spotty macro data could cause crane buyers to delay purchases. Given this uncertainty, we are lowering our price target on Terex. Our price target now reflects a lower premium to the market, as well as less excess cash given uncertainty surrounding the proposed acquisition of Demag Cranes."
"Given the strength of our channel checks we maintain our 2012 and 2013 EPS estimates of $2.30 and $3.70, respectively. That said, we are lowering our 2011 estimate to $0.75, from $1.00, reflecting a less robust 2011 rebound in Crane."
For more ratings news on Terex click here and for the rating history of Terex click here.
Shares of Terex closed at $25.87 yesterday.
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