Citi upgraded Commercial Metals (CMC) to Buy from Neutral with a price target of $65, up from $60. The firm is positive on the stock’s “emerging free cash flow / deleveraging story” following its transformational concrete acquisitions, the analyst tells investors in a research note. Commercial Metals also has incremental upside from the updated EU import policy and also remains directly exposed to bullish U.S. construction megatrends, Citi added.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CMC: