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TheStreet Open House

10 Steel Stocks With Upside

Stocks in this article: XAKSMUSATXGSICHOPSUTR

4. Ternium (TX) a steel company in Latin America is involved in manufacturing and processing a range of flat and long steel products for the construction, home appliances, capital goods, container, food, energy and automotive industries.

For its latest fourth quarter, the company reported 41% increase in net sales to $1.93 billion from the year-ago period with shipments rising 27%. The company's board of directors proposed an annual dividend of $0.075 per share, or $150.4 million, payable on June 9, 2011 after approval. For full-year 2010, revenues increased 49% while net income edged up marginally by 2% from 2009 levels.

For first quarter of 2011, operating income is likely to improve sequentially, primarily on improving margins in the North America operating profit. Higher prices and shipment levels, partially offset by increased cost per ton, would sustain higher margins. For 2011, Terenium foresees growth accelerating in the NAFTA region, led by higher industrial activity in Mexico. Furthermore, demand from South American economies will continue during 2011.

All the 11 analysts covering the stock recommend a buy on it. As per analysts surveyed by Bloomberg, the average 12-month price target is $47.1, nearly 32% higher than the stock's current price.

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