Market Overview

2 Alternative Ways To Play Latin American Growth With NYSE-Traded Argentine Stocks


previous article on Benzinga looked at two big Argentinean companies that are traded on U.S. stock exchanges and could stand as attractive investment options.

Here are three more ways to play Latin American development.


Cresud S.A.C.I.F. y A. (NASDAQ: CRESY) is a $715 million market cap agricultural company engaged in the production of basic agricultural commodities, with a growing presence in the Brazilian agricultural sector. Although it is highly leveraged, Morgan Stanley issued an Overweight recommendation for the stock in early 2014, setting an $18.60 price target.

The stock closed Wednesday at $11.31.

Tenaris S.A. and Ternium S.A.

Although Tenaris SA (NYSE: TS) and Ternium SA (NYSE: TX) are both traded in the Buenos Aires stock exchange, in addition to the NYSE.

Tenaris is a $16.7 billion market cap holding company engaged in the steel pipe manufacturing and distributing businesses. During most of 2014, the stock traded above $40, and Guggenheim Securities saw it rising to $55. However, the stock has plummeted since mid-September. After the fall, ISI Group initiated coverage on the stock with a Hold rating and a $41 price target.

It closed Wednesday at $27.92.

Ternium is a $3.25 billion market cap steel producer in Latin America, which also saw its stock tumble in 2014, losing almost 43 percent. Until October, Credit Suisse had an Outperform rating on the stock, and JP Morgan an Overweight. They both downgraded the stock to Neutral in October, and the latter issued a $24.50 price target.


Related Articles (TS + TX)

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Posted-In: argentina Credit Suisse Guggenheim Securities ISI GroupLong Ideas Emerging Markets Markets Trading Ideas