Morgan Stanley Reiterates Overweight Rating On Ternium S.A.

According to Morgan Stanley, Ternium S.A. TX Overweight rating is reiterated. Morgan Stanley reported that it reiterates its Overweight rating on Ternium shares supported by an attractive risk-reward profile and 25% upside to its $45/ADR target. “We continue to believe the company will benefit from increasing steel demand in its two main markets: North America & Argentina. Management's guidance of 8.5Mt in volumes for 2011 and for sequential EBITDA expansions in 1Q11 and 2Q11 is in line with our model.” Ternium S.A. closed yesterday at $35.94.