Downgrade Alert for Terex (TEX)
Terex (NYSE:TEX) was downgraded from Overweight to Equal Weight at Morgan Stanley today. The stock closed yesterday at $21.18 on volume of 4.9 million shares, above average daily volume of 1.4 million.
Terex share prices have moved between a 52-week high of $29.32 and a 52-week low of $13.62 and closed yesterday at 56% above that low price at $21.18 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.
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.
Terex (NYSE:TEX) has potential upside of 11.7% based on a current price of $21.18 and analysts' consensus price target of $23.66. Terex shares should encounter resistance at the 50-day moving average (MA) of $23.57 and 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