Deutsche Bank Downgrades Ternium S.A. (TX) to Hold; Gerdau (GGD) Remains Top Pick in Group

Deutsche Bank downgraded Ternium S.A. (NYSE: TX) from Buy to Hold.

Deutsche analyst says, "Our main conclusions are that (i) Brazil is now one of the most expensive countries to produce and invest in steel, and (ii) development of iron ore assets will be the key factor for future profitability of steelmakers. We updated our models and we downgrade Usiminas and Ternium from Buy to Hold. Gerdau (NYSE: GGB) remains a Buy and our Top Pick in the sector and we increased its target price from USD19 to USD20. We maintain Companhia Siderurgica Nacional (NYSE: SID) at Buy but we reduced its TP to USD20 due to lower expected iron ore shipments."

For more ratings news on Ternium S.A. click here and for the rating history of Ternium S.A. click here.

Shares of Ternium S.A. closed at $30.83 yesterday.

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