Ternium initiated with a Neutral at UBS

UBS analyst Caio Greiner initiated coverage of Ternium (TX) with a Neutral rating and $32 price target The firm sees the company as one of the best steel operators globally, due to its “high-quality” asset base, extended downstream reach, cost position, geographical footprint, and experienced management team. However, Ternium is “in a standstill” over tariffs, the analyst tells investors in a research note. The constant tariff threat is likely to generate a negative impact for Mexican economic activity and act as an overhang for Mexican equities, the analyst tells investors in a research note. UBS views Ternium as fairly valued.