Standpoint Research Upgrades Terex (TEX) to Hold
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Price: $62.05 -5.25%
Rating Summary:
9 Buy, 18 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
9 Buy, 18 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Standpoint Research upgraded Terex (NYSE: TEX) from Sell to Hold.
The firm states, "We downgraded TEX from Buy to Sell on October 21, 2010. The company had just reported a disappointing Q2, had negative earnings trailing twelve months and had doubled in the 90 days prior to that rating change. The shares have dropped 15% off its high from three weeks ago and we will take this opportunity to go to neutral. The shares remain over-valued based on trailing twelve months earnings [losses in each of the last four quarters] and at 45X estimates for 2011. That being said, the market seems to be valuing this company based on rising estimates for 2012 now at $2.27. "
For more ratings news on Terex click here and for the rating history of Terex click here.
Shares of Terex closed at $34.73 yesterday.
The firm states, "We downgraded TEX from Buy to Sell on October 21, 2010. The company had just reported a disappointing Q2, had negative earnings trailing twelve months and had doubled in the 90 days prior to that rating change. The shares have dropped 15% off its high from three weeks ago and we will take this opportunity to go to neutral. The shares remain over-valued based on trailing twelve months earnings [losses in each of the last four quarters] and at 45X estimates for 2011. That being said, the market seems to be valuing this company based on rising estimates for 2012 now at $2.27. "
For more ratings news on Terex click here and for the rating history of Terex click here.
Shares of Terex closed at $34.73 yesterday.
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