Downgrade Alert for Terex (TEX)
Terex (NYSE:TEX) was downgraded from Buy to Hold at Jefferies today. The stock closed yesterday at $24.16 on volume of 1.3 million shares, below average daily volume of 1.4 million.
Terex Corporation is a diversified global manufacturer. The Company's products include heavy-duty off-road trucks and high-capacity surface mining trucks, as well as large hydraulic mining shovels. Terex also manufactures and sells telescopic mobile cranes, aerial work platforms, utility aerial devices, telescopic material handlers and truck mounted cranes, and related products.
Over the past year, Terex has traded in a range of $13.62 to $29.32 and closed yesterday at $24.16, 77% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.
Terex (NYSE:TEX) is currently priced 2.1% above its average consensus analyst price target of $23.66. The stock should find initial support at its 50-day moving average (MA) of $23.57 and further support at its 200-day MA of $21.07.
SmarTrend is monitoring the recent change of momentum in Terex. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Terex in search of a potential trend change.
Keywords: analyst upgrades/downgrades Terex