Diamond Member Pelican Press 0 Posted May 9, 2024 Diamond Member Share Posted May 9, 2024 Goldman and JPMorgan see big upside for this under-the-radar steel stock Goldman Sachs and JPMorgan think steel producer Ternium can strengthen its presence in South America resulting in big upside for the stock. The company is a steel producer in ****** America and operates production plants in Argentina, Brazil, Columbia, Guatemala, Mexico and the U.S. Both firms said following the company’s April first-quarter results that Ternium’s better-than-expected prices in key markets like Mexico and Argentina underpinned the earnings beat, despite overall lower volume. Shares have ticked down roughly 5% in 2024. JPMorgan has an outperform rating on Ternium stock, with a $54 per share price target which equates to nearly 33% upside from Monday’s $40.31 close. Goldman Sachs, meanwhile, is buy rated on Ternium with a $51 per share price target, or about 27% upside moving forward. TX YTD mountain Ternium stock. Goldman Sachs highlighted the company’s attractive valuation and 8% dividend as part of its bullish This is the hidden content, please Sign In or Sign Up on the stock, and added that its growing Mexico business is also a tailwind moving forward. And despite executives issuing lower EBITDA guidance for the second-quarter, Goldman still expects the company to reach the firm’s full-year forecast of $3 billion. Elsewhere, Morgan Stanley also has an overweight rating on Terinum stock. The firm’s $47 per share price target amounts to nearly 17% upside moving forward. This is the hidden content, please Sign In or Sign Up Dividends,Mexico,Earnings,Ternium SA,Stock markets,Investment strategy,business news #Goldman #JPMorgan #big #upside #undertheradar #steel #stock This is the hidden content, please Sign In or Sign Up 0 Quote Link to comment https://hopzone.eu/forums/topic/29219-goldman-and-jpmorgan-see-big-upside-for-this-under-the-radar-steel-stock/ Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.