Shares of Ternium SA (TX) are soaring in intraday trading, with the stock price surging 5.13% on Wednesday. This significant uptick comes on the heels of a positive analyst report from Scotiabank, boosting investor confidence in the steel manufacturing company.

Scotiabank analyst Alfonso Salazar has maintained a Buy rating on Ternium SA, reaffirming the firm's bullish stance on the company's prospects. Moreover, Salazar set a price target of $41.00 for the stock, suggesting potential upside from its current trading levels. This vote of confidence from a major financial institution appears to be driving the day's rally.

The reiterated Buy rating and the substantial price target indicate that Scotiabank sees strong fundamentals and growth potential in Ternium SA. Investors seem to be responding positively to this assessment, as reflected in the increased trading activity and the sharp rise in the stock price. As the trading session progresses, market participants will be closely watching to see if Ternium SA can maintain this momentum and potentially approach the analyst's price target in the coming months.