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

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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.

Latest Ratings for TX

Aug 2016JP MorganMaintainsOverweight
Jul 2016UBSDowngradesBuyNeutral
Jul 2016JP MorganMaintainsOverweight

View More Analyst Ratings for TX
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Posted-In: Carlos De Alba Morgan StanleyAnalyst Color Price Target Analyst Ratings


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