Wells Fargo lowered the firm’s price target on Commercial Metals (CMC) to $77 from $80 and keeps an Overweight rating on the shares. The firm says Q2’s headline EBITDA beat masked softer segment results, and unusually severe winter weather can reverse into its Q3 May quarter. Wells trims estimates and stays bullish on attractive sum-of-the-parts upside from its precast concrete deals plus improving Europe outlook.
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