UPDATE: Morgan Stanley Reiterates On Ternium S.A. On Investor Day Takeaways

In a report published Friday, Morgan Stanley analyst Carlos De Alba reiterated an Equal-Weight rating on Ternium S.A. (NYSE: TX), but lowered the price target from $30.50 to $30.20.

In the report, Morgan Stanley noted, “We attended Ternium's 2014 Investor Day, where we met with senior management. TX is a well-run company with a sound strategy and an attractive presence in Mexico. But Siderar is facing macro headwinds and we believe the stock is unlikely to outperform. Stay EW & new PT of US$30.2/ADS.”

Ternium S.A. closed on Thursday at $28.89.