5 Best Heavy Equipment Stocks to Buy as Backlogs Hit Records

In this article, we will discuss the 5 Best Heavy Equipment Stocks to Buy as Backlogs Hit Records. For deeper discussion and analysis, read 7 Best Heavy Equipment Stocks to Buy as Backlogs Hit Records.

5. Terex Corporation (NYSE:TEX)

Upside Potential: 27.37%

Target Price: $76.59

On May 11, Raymond James upgraded Terex Corporation (NYSE:TEX) to Strong Buy from Outperform while maintaining an unchanged $85 price target. The firm stated that following the company’s first-quarter report, it has increased confidence that earnings within Terex’s materials processing segment are likely to accelerate through 2026. According to the analyst, strength in aggregates demand and accelerated pricing actions should more than offset elevated material expenses and tariff-related cost pressures. Raymond James also expressed optimism regarding the company’s specialty vehicles business, which it expects could contribute roughly one-third of adjusted segment profits during 2026. The analyst further argued that the specialty vehicles segment remains in the early stages of a broader margin expansion cycle.

On the same day, Evercore ISI analyst David Raso lowered the firm’s price target on Terex Corporation (NYSE:TEX) to $81 from $82 while maintaining an Outperform rating on the shares. Despite the modest reduction, Evercore continues to view the company favorably, given its operational positioning across construction equipment, materials processing, and specialty industrial markets. Analysts remain focused on the company’s ability to execute pricing initiatives, improve margins, and capitalize on infrastructure and industrial demand trends moving forward.

Founded in 1933 and headquartered in Norwalk, Terex Corporation (NYSE:TEX) is a global manufacturer of heavy industrial equipment specializing in aerial work platforms, materials processing machinery, and utility equipment. Its portfolio includes well-known brands and products used across infrastructure, industrial, and construction applications worldwide.