B of A Securities Downgrades Ternium to Neutral, Lowers Price Target to $47
Portfolio Pulse from richadhand@benzinga.com
Bank of America Securities analyst Caio Ribeiro downgraded Ternium (NYSE:TX) from Buy to Neutral and lowered the price target from $56 to $47.
June 12, 2023 | 12:22 pm
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NEGATIVE IMPACT
Ternium (NYSE:TX) has been downgraded from Buy to Neutral by BofA Securities, with a reduced price target of $47, down from $56.
The downgrade from Buy to Neutral and the reduction in price target from $56 to $47 by BofA Securities analyst Caio Ribeiro indicate a less optimistic outlook for Ternium's stock. This could lead to a negative short-term impact on the stock price as investors may adjust their positions based on the new rating and price target.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100