Barclays Maintains an 'Equalweight' on Terex (TEX); 3Q11 Revenue Upside a Positive Step; Margin Headwinds Linger
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Price: $67.92 +2.60%
Rating Summary:
12 Buy, 16 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
12 Buy, 16 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays maintains an 'Equalweight' on�Terex (NYSE: TEX) price target raised $1 to $18.
Barclays analyst says, "TEX reported 3Q11 results, which we view as better than expected, although there were some lingering margin headwinds that we believe could remain an issue in the near term. TEX's results included crane revenue and margins that were both above our expectations going into the quarter, reflecting what we view as a nascent recovery in crane end markets, driven by both emerging markets demand and strength in North American energy markets."
"By our calculations, the beat vs. our number included ~$0.05 driven by better segment operating performance, including ~$0.03 of upside from Material Handling and Port Solutions (Demag) and ~$0.02 of better than forecast operating results from the legacy TEX businesses."
For more ratings news on Terex click here and for the rating history of Terex click here.
Shares of Terex closed at $17.73 yesterday.
Barclays analyst says, "TEX reported 3Q11 results, which we view as better than expected, although there were some lingering margin headwinds that we believe could remain an issue in the near term. TEX's results included crane revenue and margins that were both above our expectations going into the quarter, reflecting what we view as a nascent recovery in crane end markets, driven by both emerging markets demand and strength in North American energy markets."
"By our calculations, the beat vs. our number included ~$0.05 driven by better segment operating performance, including ~$0.03 of upside from Material Handling and Port Solutions (Demag) and ~$0.02 of better than forecast operating results from the legacy TEX businesses."
For more ratings news on Terex click here and for the rating history of Terex click here.
Shares of Terex closed at $17.73 yesterday.
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