JPMorgan upgraded Commercial Metals (CMC) to Overweight from Neutral with a price target of $78, up from $64. The firm cites its updated 2027 steel price forecast, which for Commercial Metals Company includes incremental and bar upside, for the upgrade. Commercial Metals faces rebar price support in the U.S. and Europe, its EU exposure is shifting positive, and it has “underappreciated value from sticky protectionism,” the analyst tells investors in a research note.
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