Goldman Sachs has upgraded Terex (NYSE:TEX) from Neutral to Buy, raising its price target to 60 from 45. The upgrade is based on emerging signs of earnings stabilization and improved visibility across significant segments of the business.

The firm identifies the Aerial Work Platforms segment as having possibly bottomed in Q1, aided by a 30% production cut and a drop in used inventory levels. This reduction signals easing supply issues and a possible demand recovery.

Goldman has factored in the company’s recent acquisition, which has enriched its earnings mix and mitigated the traditional cyclicality challenges. While tariff concerns persist, the potential impact seems manageable in light of improving operational fundamentals.

Overall, Goldman perceives potential for both investors’ sentiment to improve and for a valuation uptrend in the near future.