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Upgrade Alert for Terex (TEX)

By James Quinn

Terex (NYSE:TEX) was upgraded from Market Perform to Outperform at Wells Fargo today. The stock closed yesterday at $24.82 on volume of 2.5 million shares, above average daily volume of 1.4 million.

In the past 52 weeks, shares of Terex have traded between a low of $13.62 and a high of $29.32 and closed yesterday at $24.82, which is 82% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has remained constant.

Terex (NYSE:TEX) is currently priced 4.7% above its average consensus analyst price target of $23.66. The stock should discover initial support at its 50-day moving average (MA) of $23.57 and subsequent support at its 200-day MA of $21.07.

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.

SmarTrend recommended that subscribers consider buying shares of Terex on January 26th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $19.70. Since that recommendation, shares of Terex have risen 26.6%. We continue to monitor TEX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades Terex

Ticker(s): TEX