Barclays has reinstated coverage of Terex Corp with an Overweight rating and $65 price target, representing 19% upside from the current $54.87 share price. The call comes after shares fell 20% over the past month from their 52-week high of $71.50. Barclays' thesis centres on Terex's portfolio transformation following the REV Group merger, which added a Specialty Vehicles segment contributing $2.2 billion in baseline revenue. The firm expects $28 million in synergies in 2026, targeting $75 million annually within two years. Fourth-quarter 2025 bookings surged 32% year-over-year to $1.90 billion with a 145% book-to-bill ratio. Management has guided 2026 adjusted EPS of $4.50 to $5.00 on net sales of $7.5 billion to $8.1 billion. Barclays views the reduced cyclical exposure and stabilising end markets as improving risk-reward.

Magna makes its ConExpo debut. March 23, 2026 Terex's new line Magna is gaining traction worldwide, with the MT130J demonstrating the brand's focus on large-scale yet mobile crushing. Magna, the Terex brand created to meet the demands of large-scale quarrying, mining and recycling operations, made its first appearance at ConExpo this year. Terex launched Magna in the summer of 2024 after recognizing a gap in the need for large scale equipment that is also mobile. The product range includes large scale jaw and cone crushers; horizontal and trommel screens; tracked and telescopic conveyors; and track mounted generators. Now, 18 months after its launch, Terex is seeing success in the untapped market for large scale machines. "It's grown faster than we planned for, which is good news. We weren't sure just how much acceptance there would be for some of these super mobile assets," said Pat Brian, Vice President of Terex Aggregates. The new brand has found success throughout North America, Australia, South Africa and the United Kingdom. With Magna growing at an unexpected pace, Terex is now faced with the challenge of increasing production. "At the moment, we're trying to ramp up our factories. Giving the scale, you can't make these anywhere. You really need specialized assembly," Brian said. "We're really excited about where it goes from here." MT130J mobile jaw crusher. At Terex's ConExpo stand, the company showcased its flagship machine, the MT130J mobile jaw crusher, which is also the largest crusher in the range. "ConExpo 2026 is the ideal platform to showcase what Magna delivers for large-scale operations," said Neil McIlwaine, Business Line Director for Magna. "We're bringing the MT130J, the largest tracked jaw crusher in our range to date, to the industry's biggest stage, demonstrating not only the power and efficiency of our equipment but the complete support package behind it to include digitalization and aftersales solutions." Weighing 126,200 kg, the MT130J is engineered for high-output quarry and mining applications. Designed to operate as a standalone primary crusher or as part of a mobile or static crushing and screening plant, the MT130J offers flexibility and efficiency for producers seeking to maximize productivity. For ease of transport between sites, the plant can be split down and reassembled without the need for heavy crane assistance, reducing downtime and costs. Its electrically driven power systems deliver significant cost advantages and environmental benefits, while the large 13-metre by 1-metre opening allows the crusher to handle oversized material, minimizing pre-processing requirements. Automatic variable speed VGF provides continuous choke feeding for optimal performance, and the high-powered electric drive delivers precise chamber controls and reverse functionality for clearing blockages and supporting demolition, asphalt and recycling applications. T-Link telematics and a standard seven-year data subscription provide operators real-time insights and connectivity. Terex has also invested in customer support for its materials processing brands. Last year, the company opened a new 135,000 square foot warehouse in Louisville, Kentucky to consolidate parts distribution under one roof. "Louisville reaches 80 per cent of the U.S. market within a day's trucking. Strategically it's in a great location," said Kieran Hegarty, President of Terex Materials Processing.

Terex reported Q4 revenues of $1.32 billion, up 6.2% year on year, exceeding analysts' expectations by 0.8%. The heavy machinery manufacturer delivered on its full-year financial targets, including $325 million in free cash flow with 147% cash conversion, and completed its merger with REV. However, the quarter showed mixed results, with the company missing analysts' EBITDA estimates despite beating on the top line. Terex's full-year guidance update was the weakest among the 21 heavy machinery stocks tracked, though its shares remained flat following the announcement. Across the sector, heavy machinery companies reported strong Q4 results, with revenues beating consensus estimates by 3.8% on average. However, share prices have declined 1.1% on average since earnings were released. The stock currently trades at $59.55.