Susquehanna Downgrades Texas Industries (TXI) to Negative, Maintains Price Target

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Susquehanna downgraded shares of Texas Industries (NYSE: TXI) to a Negative rating from their previous rating of Neutral. The firm reports that after the shares 3% sell-off this past Friday, it now has their unchanged price target of $33 implying a 22% downside. They are expecting TXI shares to underperform as the market adjusts for weaker than discounted fundamentals. As a result the firm is lowering their FY11, FY12, and FY13 EPS estimates to ($1.59), ($0.65), and $0.30 from ($0.80), ($0.34), and $0.44.

For more ratings news on Texas Industries click here and for the rating history of Texas Industries click here.

Shares of Texas Industries closed at $42.15 yesterday, with a 52 week range of $27.28-$47.42.

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