Citi cuts Terex's PT on low demand for access equipment
23/09/2024 13:22
** Citi cuts Terex's TEX.N PT by $3 to $60
** Stock priced at $51.86 as of last close
** Brokerage sees lower assumptions for sales of access
equipment and margins
** These are machines that allow operators to work at
elevated areas safely
** We continue to favor Oshkosh OSK.N over TEX on robust
outlook for OSK’s Vocational and Defense segments, which more
than offsets the choppiness in the Access segment - Brokerage
** Average rating for both TEX and OSK is "hold"
** Up to Friday's close, OSK down 7.25% compared with TEX's
~10% fall, YTD
(Reporting by Soumendra Mukherjee)
((soumendra.mukherjee@thomsonreuters.com))