Berenberg Bank Believes TX Won’t Stop HereBy Carrie Williams
In a report released yesterday, Alessandro Abate from Berenberg Bank maintained a Buy rating on Ternium S.A. (NYSE: TX), with a price target of $28.50. The company’s shares closed yesterday at $24.12, close to its 52-week high of $26.50.
According to TipRanks.com, Abate is a 5-star analyst with an average return of 34.6% and a 91.7% success rate. Abate covers the Basic Materials sector, focusing on stocks such as Steel Dynamics, ArcelorMittal, and Nucor Corp.
Ternium S.A. has an analyst consensus of Moderate Buy, with a price target consensus of $28.50.
Based on Ternium S.A.’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $1.61 billion and quarterly net profit of $198 million. In comparison, last year the company earned revenue of $1.85 billion and had a net profit of $23.61 million.
Ternium SA engages in the manufacture and trade of steel products. It operates through two segments: Steel and Mining. The Steel segment includes the sales of steel products, which comprises slabs, hot rolled coils and sheets, cold rolled coils and sheets, tin plate, welded pipes, hot dipped galvanized and electro-galvanized sheets, pre-painted sheets, billets, wire rod and bars and other tailor-made products. It operates in Mexico, Southern Region and Other markets, which includes Argentina, Paraguay, Chile, Bolivia, Uruguay, U.S., Colombia, Guatemala, Costa Rica, El Salvador, Nicaragua and Honduras. The Mining segment includes the sales of mining products, mainly iron ore and pellets, and comprises the mining activities of Las Encinas. Ternium was founded in September 1961 and is headquartered in Luxembourg.