Terex (TEX) got a $40 target from Buckingham Research today suggesting as much as a 65% gain from these levels. TEX is a leading construction equipment company specializing in AWPs and Cranes. TEX will benefit from the recovery from the global recession and the return to infrastructure building around the world.
Can't find any specifics on the upgrade other the headline details of the $40 target. The target while aggressive should be in line with expectations considering that management has a viable plan for $6 in earnings in the next few years and global growth should oblige.
The next potential catalyst will be earnings on Wednesday after the close. Analysts expect a $.16 loss and based on recent history and the crane number out of competitor Manitowoc (MTW) numbers should be relatively in line depending on cost cutting efforts. As the economy continues to turn though, margins will quickly become more favorable and additional revenue will flow to the bottom line. Load up on TEX on any weakness on Thursday.