Terex price target raised to $65 from $62 at Truist

Truist raised the firm’s price target on Terex (TEX) to $65 from $62 and keeps a Buy rating on the shares after its Q3 earnings beat. The company’s Aerial Work Platforms segment revenue rose 2.4% but came in lower than anticipated as lead times become shorter and as U.S. rental customers adjust delivery schedules to better align with their fleet requirements, the analyst tells investors in a research note. The waste and recycling industry are non-cyclical markets that have resilient growth trajectories with global recycling services to reach $220B/yr by 2027, and Terex also remains encouraged with the increasing product adoption across emerging markets such as India, Southeast Asia, the Middle East and, Latin America, Truist added.