Ternium price target raised to $41 from $38 at HSBC

HSBC analyst Jonathan Brandt raised the firm’s price target on Ternium (TX) to $41 from $38 and keeps a Buy rating on the shares. The firm says precious metal prices are hitting “record decades-high levels,” with copper outperforming base and bulk metals on supply disruptions. HSBC expects Freeport to benefit from the strength in copper and gold prices.