BMO Capital analyst Katja Jancic lowered the firm’s price target on Commercial Metals (CMC) to $55 from $57 and keeps a Market Perform rating on the shares. The company’s Q3 earnings were a miss, but its earnings are expected to improve sequentially in Q4, the analyst tells investors in a research note. Commercial Metals’ TAG program – Transform, Advance, Grow – is taking shape, with a total run-rate benefit from current initiative expected to exceed $100M, BMO added.
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