Terex price target lowered to $48 from $51 at JPMorgan

JPMorgan analyst Tami Zakaria lowered the firm’s price target on Terex (TEX) to $48 from $51 and keeps a Neutral rating on the shares. Waiting for clarity on tariffs “might lead us to wait too long to reduce estimates” as ongoing uncertainty is impacting sentiment and orders, the analyst tells investors following fireside chats and investor meetings at the firm’s annual Industrials Conference last week. The firm is lowering estimates for the Truck and Component OEMs in response to weak truck orders and following the EPA’s deregulation announcement, noting that it is lowering its 2025 North America Class 8 and Classes 6-7 build outlook to down 10% and down 20% year-over-year, respectively, from prior forecasts of up 5% and down 15%.