Goldman Sachs Comments on Ternium's Investor Day

In a research report published earlier today, Goldman Sachs said Ternium's TX investor day was well-attended and offered more visibility on steal investments in Brazil/Usiminas. According to Goldman Sachs, “Daniel Novegil gave a detailed presentation focused on growth opportunities and investments in Usiminas. In our view, details on a potential steel project investment in Brazil and preliminary guidance on Usiminas' turnaround potential were marginally positive for the stock. Following the presentation, we expect a lessening of the overhang on TX shares caused by the potential investment in a steel plant in Brazil and the lack of visibility regarding potential turnaround on Usiminas.” Goldman Sachs maintains its Buy rating and $29 PT on Ternium, which closed yesterday at $24.28.