The firm said it raised its rating on the global equipment manufacturer of machinery products as it has a renewed confidence in Terex's improvement initiatives, which Jefferies says makes the company's valuation "compelling."
"Terex has a new margin expansion program based on zero growth, a plan to lower its tax rate and generate cash for debt repayment," Jefferies said.
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The firm raised its price target on Terex Corp. stock to $35 from $30.
For the current year Jefferies forecast for earnings per share of $2.30, for the following year Jefferies estimates earnings of $3 per share.
Separately, TheStreet Ratings team rates TEREX CORP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate TEREX CORP (TEX) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."