UBS Maintains a 'Neutral' on Terex (TEX); Raising Estimates & Target as Rental Survey Indicates Growth
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Price: $66.48 +3.55%
Rating Summary:
12 Buy, 16 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
12 Buy, 16 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UBS maintains a 'Neutral' on Terex (NYSE: TEX) price target raised by $1 to $16.
UBS analyst says, "Raising sales forecasts on improving capex outlook: Responses to our monthly rental survey (released today) are increasingly positive, and twice as many branch managers (67%) see their current fleet size as too small to meet demand than did so a year ago (33%). Branch managers expect to add fleet for all equipment types surveyed, most aggressively on dirtmoving equipment and aerial work platforms. While rental companies have already begun adding fleet, responses suggest strength in rental fleet capex will continue into 2012...Reflecting the higher sales forecasts, we are raising our 2012E & 2013E EPS to $1.65 and $3.35, from $1.55 and $3.25, respectively. We maintain 2011E of $0.43."
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 $15.56 yesterday.
UBS analyst says, "Raising sales forecasts on improving capex outlook: Responses to our monthly rental survey (released today) are increasingly positive, and twice as many branch managers (67%) see their current fleet size as too small to meet demand than did so a year ago (33%). Branch managers expect to add fleet for all equipment types surveyed, most aggressively on dirtmoving equipment and aerial work platforms. While rental companies have already begun adding fleet, responses suggest strength in rental fleet capex will continue into 2012...Reflecting the higher sales forecasts, we are raising our 2012E & 2013E EPS to $1.65 and $3.35, from $1.55 and $3.25, respectively. We maintain 2011E of $0.43."
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 $15.56 yesterday.
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