The firm said the company could be helped in the U.S. adds a fee to steel imports from Mexico.
Ternium could benefit if the U.S. puts a tariff on steel coming from Mexico, according to Morgan Stanley. Analyst Carlos De Alba reiterated his overweight rating on the steel producer and said it was still his top pick in the Latin American metals and mining sector. His $51 price target implies shares can gain 13.5% over the next year from Wednesday's close.
may implement a tariff on steel imports from Mexico, De Alba said. If that happened, Ternium would not only be well positioned, but may even benefit, he said. Ternium's product mix makes the company likely to get a boost from a lower steel trade given its business focus on steel types that aren't typically exchanged at high volumes between the two countries, De Alba noted. In other words, the bulk of the trade is steel more commonly produced by other companies.
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