Goldman Sachs Downgrades Ternium S.A. (TX) to Neutral; Watch Out For The Value Trap

Goldman Sachs downgraded Ternium S.A. (NYSE: TX) from Americas Buy List to Neutral with a price target of $19.50 (from $24.00).

Analyst, Marcelo Aguiar, said, "We downgrade Ternium to Neutral on a weaker-than-expected 2H12 outlook, target price upside now in line with our coverage’s average, and a lack of catalysts. Ternium is replaced by Usiminas (USIM5) in our LatAm Focus List. We adjust our 2012/13/14 EBITDA by -15%/+0%/-8% and lower our 12-month price target."

For an analyst ratings summary and ratings history on Ternium S.A. click here. For more ratings news on Ternium S.A. click here.

Shares of Ternium S.A. closed at $18.11 yesterday.

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