Procore stock price target raised to $90 from Goldman Sachs on stabilizing growth
Investing.com - Morgan Stanley upgraded Terex (NYSE:TEX) from Underweight to Equalweight and raised its price target to $47.00 from $41.00. According to InvestingPro data, Terex is currently trading at $46.07, with analysts’ targets ranging from $41 to $77. The stock appears undervalued based on InvestingPro’s Fair Value assessment.
The upgrade follows Terex’s strategic moves to reduce business cyclicality, with Morgan Stanley noting that after the planned Aerials sale or spin-off, more than 70% of Terex’s revenue would come from waste, emergency, and utilities end markets. Terex generated $5.34 billion in revenue over the last twelve months, with a gross profit margin of 18.7%.
Morgan Stanley views the deal as an attractive opportunity for Terex to de-leverage while allowing REV Group to gain scale and broaden its capital deployment opportunities.
The firm expressed some caution regarding limited revenue and operational synergies, with expected synergies at approximately 1% of proforma sales minus the Aerials business.
Morgan Stanley also noted concerns about peak backlogs across Terex’s remaining portfolio, but indicated the recent double-digit correction in Terex shares has appropriately discounted these risks and the potential challenges of selling the Aerials business at a potentially inopportune time in the market cycle.
In other recent news, Terex Corporation reported strong financial results for the second quarter of 2025, with net sales increasing by 8% year-over-year to $1.5 billion and earnings per share reaching $1.49. The company has maintained its full-year EPS guidance between $4.70 and $5.10. Terex also announced the completion of the sale of its Tower and Rough Terrain Cranes businesses to Raimondi Cranes SpA, including facilities in Italy and a service operation in North Carolina. Additionally, Raymond James upgraded Terex’s stock rating from Market Perform to Outperform, citing significant upside potential with a price target of $70.00. The Board of Directors declared a quarterly dividend of $0.17 per share, payable on December 19, 2025, to shareholders of record as of November 10, 2025. These developments highlight Terex’s strategic moves and financial performance in recent months.
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