What Happened?
Shares of lifting and material handling equipment company Terex (NYSE:TEX) jumped 2.6% in the afternoon session after Morgan Stanley upgraded the company's stock to "Overweight" from "Equal-Weight" and raised its price target.
The investment bank increased its price target on Terex to $60.00 from $47.00. The upgrade reflected Morgan Stanley's view that the construction equipment manufacturer was positioned to outperform its peers over the next 12 months. The bank pointed to earnings that have likely hit their lowest point and an improving business portfolio following recent merger and acquisition activity as positive drivers for the company.
After the initial pop the shares cooled down to $50.20, up 2.6% from previous close.
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What Is The Market Telling Us
Terex’s shares are quite volatile and have had 16 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 7 days ago when the stock gained 6.9% on the news that positive analyst sentiment and the European launch of one of its brands boosted investor confidence.
The stock received support from a consensus "Buy" rating among 10 analysts, who also set an average price target that forecasted a 23.38% increase in the stock's value over the next year. Adding to the good news, MAGNA, a Terex brand that focuses on large-scale crushing and screening equipment, officially marked its European launch with an event at a company facility. The event was held to better inform potential customers about MAGNA's market position and its range of products, signaling an expansion of the company's presence in the European market.
Terex is up 12.8% since the beginning of the year, but at $50.20 per share, it is still trading 14.2% below its 52-week high of $58.48 from October 2025. Investors who bought $1,000 worth of Terex’s shares 5 years ago would now be looking at an investment worth $1,441.
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