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TX

Ternium

$27.15

0.63 (2.38%)

16:22
03/01/17
03/01
16:22
03/01/17
16:22

Ternium to invest $260M in new galvanizing, pre-painting lines in Mexico

Ternium announced plans to build a hot-dip galvanizing line and a pre-painting line in its facility in Pesqueria, Mexico. The new lines will target Mexico's industrial markets, "deepening the company's import substitution strategy." The new hot-dip galvanizing and pre-painting lines will have annual production capacity of 300,000 and 120,000 metric tons, respectively. With a total investment of approximately $260M, the new lines would be operational by 2020 and expand Ternium's current hot-dip galvanizing and pre-painting production capacity in Mexico by 17% and 20%, respectively.

TX Ternium
$27.15

0.63 (2.38%)

11/09/16
HSBC
11/09/16
DOWNGRADE
HSBC
Hold
Ternium downgraded to Hold from Buy at HSBC
HSBC Jonathan Brandt downgraded Ternium to Hold and lowered its price target to $25 from $31 saying the Trump victory increases uncertainty around the company's Mexican operations.
11/23/16
BREN
11/23/16
INITIATION
Target $28.5
BREN
Buy
Ternium initiated with a Buy at Berenberg
Berenberg analyst Alessandro Abate initiated Ternium with a Buy and a $28.50 price target.
12/05/16
JPMS
12/05/16
DOWNGRADE
JPMS
Neutral
Grupo Simec downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Rodolfo Angele downgraded Grupo Simec (SIM) to Neutral saying steel prices are likely to follow raw material prices down. The analyst prefers a more cautious stance on the shares following the recent outperformance. Angele notes that Ternium (TX) is his top pick and only Overweight rated name in Latin America Steel.
02/23/17
HSBC
02/23/17
UPGRADE
Target $31
HSBC
Buy
Ternium upgraded to Buy from Hold at HSBC
HSBC analyst Jonathan Brandt upgraded Ternium to Buy and raised its price target to $31 from $25 given better expected volume growth and prices, and relative underperformance.

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EEM

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EWW

iShares MSCI Mexico

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0.4 (0.78%)

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CPYYY

Centrica

$8.66

0.18 (2.12%)

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DISH

Dish

$50.43

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UUP

PowerShares DB US Dollar Index Up

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UDN

PowerShares DB US Dollar Index Down

$22.23

0.1881 (0.85%)

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TEVA

Teva

$13.48

0.15 (1.13%)

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Periodicals
Teva to slash up to 25% of Israeli workforce, Bloomberg reports »

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BASFY

BASF

$27.39

-0.13 (-0.47%)

04:55
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Conference/Events
BASF management to meet with Evercore ISI »

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$7.30

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DE

Deere

$145.25

6.02 (4.32%)

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Deutsche Bank gets off sidelines, upgrades Deere shares to Buy »

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