Downgrade Alert for Ternium (TX)
Ternium (NYSE:TX) was downgraded from Overweight to Equal Weight at Morgan Stanley today. The stock closed yesterday at $16.25 on volume of 1.0 million shares, above average daily volume of 383,000.
Potential upside of 34.8% exists for Ternium, based on a current level of $16.25 and analysts' average consensus price target of $21.90. The stock should find resistance at its 50-day moving average (MA) of $18.15, as well as support at its 200-day MA of $14.68.
Ternium SA, through subsidiaries, manufactures and processes steel. The Company produces cold rolled coils and sheets, tin, galvanized and electrogalvanized sheets, pre-painted sheets, tailor-made flat products, bars, and wire rod in Argentina, Venezuela, and Mexico.
In the past 52 weeks, shares of Ternium have traded between a low of $10.28 and a high of $21.50 and closed yesterday at $16.25, which is 58% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 2.7%.
SmarTrend recommended that subscribers consider buying shares of Ternium on February 4th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $12.42. Since that recommendation, shares of Ternium have risen 47.8%. We continue to monitor TX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades ternium