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UPDATE: Morgan Stanley Reiterates On Ternium SA On New Iron Ore Price Scenario

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UPDATE: Morgan Stanley Reiterates On Ternium S.A. On Investor Day Takeaways
Top 4 Mid-Cap Stocks In The Steel & Iron Industry With The Highest Operating Margin

In a report published Thursday, Morgan Stanley analyst Carlos De Alba reiterated an Equal-Weight rating on Ternium SA (NYSE: TX), but lowered the price target from $30.20 to $29.90.

In the report, Morgan Stanley noted, “We are adjusting Ternium's model on the back of our commodities team's lower IO price scenario, the expected ARS depreciation, and increasing domestic costs in Argentina. As a result, we are reducing our 2014–16 EBITDA estimates by 3–5% and our PT to US$29.9/ADS from US$30.2.”

Ternium SA closed on Wednesday at $29.83.

Posted-In: Carlos De Alba Morgan StanleyAnalyst Color Price Target Analyst Ratings

 

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