Morgan Stanley said after having hosted Ternium in a non-deal roadshow that the firm’s conversations with the company’s management support conviction in its Overweight rating on the shares, which it thinks are undervalued and offer an attractive risk-reward. Ternium profitability has reached an inflection point, and in the past this has proven a good entry point for the stock, says the firm, which continues to identify the stock as its top pick in Latin America metals and mining with a $51 price target on the shares.
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