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Commercial Metals upgraded to Outperform from Peer Perform at Wolfe Research

Wolfe Research upgraded Commercial Metals (CMC) to Outperform from Peer Perform with a $50 price target The firm sees Commercial Metals as a relative outperformer in an environment of sheet prices under pressure, with its channel checks indicating bar demand for construction has been relatively more resilient. Oversupply concerns are more a 2026 issue, the analyst tells investors in a research note. Wolfe says the upgrade reflects a view that bar margins can be more resilient than sheet, where prices “have overshot and begun to retreat.”

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