Terex (TEX) shares soared 7.1% in the last trading session to close at $63.17. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 4.5% gain over the past four weeks.Terex Corporation has completed its merger with REV Group, creating a leading specialty equipment manufacturer with a diversified and complementary portfolio. The combined entity benefits from lower capital intensity, an attractive leverage profile, and strong free cash ...

NORWALK, Conn., Feb. 2, 2026 /PRNewswire/ -- Terex Corporation (NYSE: TEX) today announced the successful completion of its merger with REV Group (NYSE: REVG) to form a premier specialty equipment manufacturer with a diversified portfolio and strong growth prospects. Terex Corporation is a global leader in specialized equipment solutions, serving essential sectors such as emergency services, waste and recycling, utilities, and construction. Our diversified portfolio positions us in resilient, high-demand ma ...

Core Viewpoint - The merger between Terex Corporation and REV Group has received necessary stockholder approvals, with the transaction expected to close in the first week of February 2026, pending remaining closing conditions [1][2]. Company Overview Terex Corporation - Terex is a global industrial equipment manufacturer specializing in materials processing machinery, waste and recycling solutions, mobile elevating work platforms, and equipment for the electric utility industry [5]. - The company focuses on providing lifecycle support and complementary digital solutions to maximize customer investment returns, including environmentally friendly products such as electric and hybrid offerings [5]. REV Group, Inc. - REV Group designs and manufactures specialty vehicles and related aftermarket parts, serving a diversified customer base primarily in the United States [6]. - The company operates through two segments: Specialty Vehicles, which includes public service vehicles, and Recreational Vehicles, which encompasses a range of RVs [6]. Merger Details - Over 95% of Terex stockholders voted in favor of the stock issuance proposal, while more than 80% of REV's outstanding shares voted in favor of the merger proposal [7]. - The merger is expected to create a stronger, more diversified company with enhanced financial flexibility and significant synergies, positioning both companies for sustainable long-term growth [2][7].

Summary of Terex Corporation's Extraordinary General Meeting Company Overview - **Company**: Terex Corporation (NYSE:TEX) - **Event**: Extraordinary General Meeting held on January 28, 2026 Key Points Discussed Merger Proposal - The primary agenda was to approve the issuance of shares of Terex common stock to REV Group stockholders as part of the proposed merger between Terex and REV Group [3] - The board of directors unanimously recommended that stockholders vote in favor of this proposal [3] - The proposal required a majority of votes cast for approval, which was achieved as indicated by the preliminary report [3] Voting Process - A quorum was established for the meeting, with sufficient shares represented to conduct business [2] - Stockholders unable to attend in person were able to vote by proxy, and those attending online had the option to change their votes during the meeting [2] Meeting Conclusion - The final vote tabulation will be included in Terex's current report on Form 8-K, which will be filed with the SEC within four business days [4] - The meeting concluded without further business, and attendees were informed that a company representative would follow up on any submitted questions [4][5] Additional Important Information - The merger is described as a transformational transaction for Terex, indicating significant strategic implications for the company [1] - Acknowledgment of the hard work and dedication of team members and the support from customers and stockholders was emphasized by the Non-Executive Chairman [1]

Core Viewpoint - Terex Corporation will host a conference call to discuss its fourth quarter and year-end 2025 financial results on February 11, 2026, at 8:30 a.m. Eastern Time, led by CEO Simon Meester and CFO Jennifer Kong-Picarello [1]. Group 1: Financial Results Announcement - The financial results will be available on the company's investor relations website prior to the call on February 11, 2026 [2]. - Participants are encouraged to join the webcast 15 minutes early, and a replay will be accessible afterward on the same website [2]. Group 2: Company Overview - Terex Corporation is a global manufacturer of industrial equipment, focusing on materials processing machinery, waste and recycling solutions, and mobile elevating work platforms [3]. - The company designs and supports products used across various sectors, including maintenance, manufacturing, energy, and construction, while also providing lifecycle support and digital solutions to enhance customer investment returns [3]. - Terex offers environmentally friendly products, including electric and hybrid options, and supports renewable energy initiatives and waste recovery [3]. - The company's manufacturing facilities are located in North America, Europe, and Asia Pacific, with products sold globally [3].

Core Insights - Terex Corporation has appointed Namita Jindal as Senior Vice President and Chief AI and Data Officer, effective immediately [1] - Jindal brings over two decades of experience in digital transformation, previously serving as Chief Information Officer at CentralSquare Technologies and holding key roles at Honeywell Intelligrated [2][3] - The appointment is expected to enhance Terex's digital strategy and operational efficiency, contributing to a more profitable company [3] Company Overview - Terex Corporation is a global manufacturer of industrial equipment, specializing in materials processing machinery, waste and recycling solutions, and mobile elevating work platforms [4] - The company designs and supports products used across various industries, including maintenance, manufacturing, energy, and construction, while also focusing on environmental sustainability through electric and hybrid offerings [4] - Terex products are manufactured in North America, Europe, and Asia Pacific, and are sold worldwide [4]

Core Thesis - Terex Corporation (TEX) presents a bullish investment opportunity driven by strategic acquisitions and a potential merger with REV Group, which could enhance growth and shareholder value [1][5][7] Business Overview - Terex operates three distinct business segments: aerial work platforms in North America, mobile screening and crushing equipment in Ireland, and Heil-branded garbage trucks, which were acquired for $2 billion from Dover in October 2024 [2][3] Historical Context - The company has a history of acquisitions and divestitures, including the significant purchase of Genie's aerial work platform business in 2002, followed by a balance sheet strengthening under CEO John Garrison [3] - Current CEO Simon Meester has continued this trend with the Heil acquisition, which has added revenue but also increased debt [3] Recent Developments - Terex announced a merger with REV Group, involving $425 million in cash and 48 million TEX shares, alongside a planned divestment or spinoff of the Genie business [4] - The rationale for this strategic shift is not fully clear, but the chair, David Sachs, has a significant stake, suggesting confidence in management's direction [4] Financial Performance - In 2025, core business segments showed mixed results, with the aerial work platform and materials segments softening, while the garbage truck division remained strong [3] - TEX's stock price has appreciated by approximately 33.23% since previous bullish coverage, indicating positive market sentiment [6] Investment Outlook - If the merger with REV Group is completed, shareholders could benefit from a combined entity with substantial growth potential and a significant backlog [5] - If the merger does not proceed, existing shareholders would still retain a profitable and diversified business with an attractive valuation, particularly in the aerial work platform unit [5]

Industry Overview - The Zacks Manufacturing - Construction and Mining industry is currently facing challenges due to a prolonged contraction in the manufacturing sector and subdued customer spending attributed to tariffs [1][4]. - The industry includes companies that manufacture and sell construction, mining, and utility equipment, supporting various sectors such as oil and gas, power generation, and infrastructure projects [3]. Current Trends - Despite ongoing weaknesses, increased infrastructure investment in the U.S. and demand from the mining sector, driven by the energy transition trend, are expected to support the industry [2][5]. - The manufacturing index has been in contraction for 10 months, with a reading of 47.9% in December, indicating a significant decline in manufacturing activity [4]. - The energy transition trend is anticipated to boost demand for mining equipment as the shift from fossil fuels to zero emissions requires more commodities [5]. Financial Performance - The Manufacturing - Construction and Mining industry has outperformed the broader market, growing 63.3% over the past year compared to the sector's 8.3% return and the S&P 500's 19.2% increase [10]. - The industry is currently trading at a trailing 12-month EV/EBITDA ratio of 17.37X, which is lower than the S&P 500's 18.87X and the Industrial Products sector's 25.7X [13]. Company Highlights - **Caterpillar Inc. (CAT)**: The company reported year-over-year revenue growth in Q3 2025, with a record-high backlog of $39.9 billion. It is expected to benefit from increased infrastructure spending and the global energy transition [17][18]. CAT shares have gained 23.8% in the past three months [17]. - **Terex Corporation (TEX)**: Recently sold its Terex Tower and Rough Terrain Cranes businesses to reduce cyclicality and drive core growth. The company is merging with REV Group, expected to create a leading specialty equipment manufacturer with $7.8 billion in combined net sales [21][23]. TEX shares have gained 16% in the past three months [23]. - **Astec Industries (ASTE)**: Completed the acquisition of CWMF, enhancing its gross margin and earnings per share. The company is focusing on cost reductions and pricing actions to offset tariff impacts [25][26]. ASTE shares have gained 7.6% in the past three months [25].

Core Viewpoint - The proposed sale of REV Group, Inc. to Terex Corporation is under investigation to assess whether the offered consideration adequately values the company [1]. Group 1: Transaction Details - Shareholders of REV Group will receive $8.71 in cash plus 0.9809 of a share of the combined company for each share they own [1]. Group 2: Legal Investigation - Kahn Swick & Foti, LLC is investigating the adequacy of the proposed transaction and the process leading to it [1]. - The firm is seeking to determine if the consideration undervalues REV Group [1].

Core Viewpoint - The article summarizes the latest analyst ratings from Wall Street, highlighting significant upgrades, downgrades, and new coverage that could impact market sentiment and investment decisions [1][6]. Upgrades - Oppenheimer upgraded General Electric Energy (GEV) from "Hold" to "Outperform," setting a target price of $855, citing improved pricing and sales, along with enhanced factory utilization and operational efficiency [5]. - JPMorgan raised PepsiCo (PEP) from "Neutral" to "Overweight," increasing the target price from $151 to $164, due to the company's accelerated innovation and marketing spending [5]. - HSBC upgraded AbbVie (ABBV) from "Hold" to "Buy," with a target price increase from $225 to $265, noting the company's growth momentum and strong execution capabilities [5]. - Morgan Stanley raised Terex (TEX) from "Equal Weight" to "Overweight," with a target price increase from $47 to $60, as the company's performance has rebounded and its business mix has improved [5]. - Oppenheimer upgraded Dyne Therapeutics (DYN) from "Hold" to "Outperform," significantly raising the target price from $11 to $40, highlighting the stock's undervaluation compared to its competitor Avidity [5]. Downgrades - HSBC downgraded Biogen (BIIB) from "Hold" to "Reduce," with a slight target price decrease from $144 to $143, citing the poor performance of its multiple sclerosis business [5]. - Jefferies lowered Emerson Electric (EMR) from "Buy" to "Hold," maintaining a target price of $145, indicating limited short-term upside due to the company's recent performance outlook [5]. - JPMorgan downgraded Noble Energy (NE) from "Overweight" to "Neutral," raising the target price from $31 to $33, while expressing caution about upstream capital expenditures [5]. - Jefferies downgraded Rexnord (RRX) from "Buy" to "Hold," reducing the target price from $170 to $160, noting that the company's transformation plan is taking longer than expected [5]. - Jefferies lowered Vail Resorts (VLTO) from "Buy" to "Hold," with a target price decrease from $125 to $105, stating that the current stock price reflects the company's stable demand and strong returns [5]. New Coverage - Guggenheim initiated coverage on Amazon (AMZN) with a "Buy" rating and a target price of $300, suggesting that the retail sector is showing signs of improvement despite previous concerns [9]. - B. Riley initiated coverage on Roblox (RBLX) with a "Buy" rating and a target price of $125, highlighting the company's strong long-term fundamentals [13]. - Cowen initiated coverage on Sensata Technologies (IOT) with an "Outperform" rating and a target price of $55, believing the company's platform aligns well with the $45 trillion "physical operations" industry [13]. - B. Riley initiated coverage on Take-Two (TTWO) with a "Buy" rating and a target price of $300, driven by the anticipated release of Grand Theft Auto 6 in November 2026 [13]. - Canadian Imperial Bank of Commerce initiated coverage on Shark Ninja (SN) with a "Buy" rating and a target price of $135, viewing the company as a "category disruptor" [13].