Russel Metals (RUSMF – Research Report), the Industrials sector company, was revisited by a Wall Street analyst on February 14. Analyst Devin Dodge from BMO Capital maintained a Hold rating on the stock and has a C$50.00 price target.
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Devin Dodge has given his Hold rating due to a combination of factors influencing Russel Metals’ stock. The outlook for steel prices appears brighter, providing a favorable environment for the stock. However, macroeconomic uncertainties in the near term keep the recommendation conservative.
While the company exhibits a strong balance sheet and significant capital deployment flexibility, the revised earnings expectations for 2025, particularly in the Service Center division, suggest potential challenges ahead. The estimation adjustments reflect a more cautious approach, factoring in current steel prices and reduced gross margins. Despite these challenges, Russel Metals is positioned to take advantage of potential benefits from new steel tariffs in the US, which may improve its future prospects.
RUSMF’s price has also changed moderately for the past six months – from $27.370 to $30.180, which is a 10.27% increase.