tiprankstipranks
Ternium upgraded to Buy from Neutral at BofA
The Fly

Ternium upgraded to Buy from Neutral at BofA

BofA analyst Caio Ribeiro upgraded Ternium to Buy from Neutral with an unchanged price target of $47. The analyst cites switching steel preferences in the upgrade, arguing that earnings momentum should improve with the ongoing U.S. hot rolled coil rally extending above $1,000/st. The firm’s new $3.5B EBITDA estimate for Ternium for 2024 is now 38% above consensus, the analyst noted.

Don't Miss our Black Friday Offers:

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

See the top stocks recommended by analysts >>

Read More on TX:

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App