Goldman Sachs Upgrades Ternium S.A. (TX) to Buy
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Goldman Sachs upgrades Ternium S.A. (NYSE: TX) from Neutral to Buy and added the stock to their Latin America Foucs List. Goldman also raised their price target from $18.30 to $25.60.
The firm new price target represents 46% upside to Friday's close of $17.50.
The firm cited a more constructive view on steel prices internationally and cost reductions. The firm said Ternium is the stock most geared to a rebound in steel prices and shipments in the international market.
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