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According to a research report published this morning, Goldman Sachs has lowered Ternium's
TX PT from $29 to $27.50.
In the report, Goldman Sachs explained, "We update our TX valuation model for (1) new macro premises and (2) steel price forecasts that lead us to cut 2012-14 EPS by 6.7%/8.3%/12.7%. In light of higher risk aversion on Argentina and this earnings update, we cut our 12-month price target to US$27.50/ADR from US$29. TX reports 1Q on April 25 BMO; we expect US$340mn EBITDA and US$1.73 EPS."
Goldman Sachs maintains its Buy rating on Ternium, which closed Friday at $22.15.
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