Terex price target lowered to $38 from $48 at JPMorgan

JPMorgan lowered the firm’s price target on Terex (TEX) to $38 from $48 and keeps a Neutral rating on the shares as part of a Q1 preview for the construction equipment group. The firm expects increased recession probability will weigh on outlooks. While there may have been some pre-buy in Q1 ahead of the tariff announcements, companies will either talk down the standing full year outlook or pull guidance altogether, and the second half acceleration expected at the start of the year against easy compares “is now questionable,” the analyst tells investors in a research note. As such, JPMorgan cut estimates and price targets across the board.