Ternium Delivers Near-Record Steelmaking Margins in Third Quarter; Fair Value Raised to $18
We've raised our profit forecasts for Ternium after the company reported third-quarter results that exceeded our expectations across both the steel and mining operations. Accordingly, we've raised our near-term profit estimates for both segments. Additionally, given an impressive reduction in mining unit costs, we've also increased our long-term profit forecasts for the mining segment. This increases our companywide midcycle operating margin forecast to 8% from 7.5%. Our fair value estimate rise...
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