Katja Jancic, an analyst from BMO Capital, maintained the Buy rating on Reliance Steel (RS – Research Report). The associated price target is $335.00.
Katja Jancic’s rating is based on Reliance Steel’s strong financial health and strategic positioning. The company has demonstrated a robust balance sheet and consistent free cash flow generation, which are expected to continue supporting its growth and shareholder returns. Reliance Steel’s diversified product offerings and end-market mix, along with its value-added processing capabilities, position it well to maintain resilient performance across economic cycles.
Looking ahead, Reliance Steel is expected to see stable demand and an increase in selling prices, contributing to improved earnings in the upcoming quarter. The company is also well-positioned to capture additional market share despite macroeconomic uncertainties. Furthermore, Reliance Steel’s active capital allocation strategy, including significant share repurchases and investments in growth projects, underscores its commitment to enhancing shareholder value.
In another report released today, KeyBanc also maintained a Buy rating on the stock with a $327.00 price target.
RS’s price has also changed slightly for the past six months – from $293.800 to $285.160, which is a -2.94% drop .