BofA raised the firm’s price target on Commercial Metals (CMC) to $80 from $70 and keeps a Buy rating on the shares. The firm is refreshing its price forecasts for North American Metals & Mining stocks under its coverage, the analyst tells investors. The firm sees the macro backdrop as challenging due to China’s slowing commodity demand but notes this may be offset by a rebound in demand in U.S. and Europe.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CMC:
- Commercial Metals Announces $2 Billion Senior Notes Offering
- Commercial Metals Announces $2B Notes for Acquisition
- Commercial Metals Amends Credit Agreement for Bridge Facility
- Commercial Metals Announces Director Retirement
- Commercial Metals upgraded to Overweight from Equal Weight at Morgan Stanley