Terex Believes It Has the Right Portfolio in Place To Achieve Its 2027 Sales and Margin Targets

We’re raising our fair value estimate to $45.50 from $42 previously, following Terex's 2022 investor day. We’ve elected to give Terex more credit on both the sales and margin front toward the back half of our explicit forecast. Our main takeaway from Terex’s investor day is that management is confident it has the right portfolio in place to drive greater sales growth and margin expansion by 2027. Recall that the company divested several underperforming businesses in the last decade and has refocused its efforts around two segments—aerial work platforms, or AWP, and materials processing, or MP.