BofA downgraded Gerdau (GGB) to Neutral from Buy with a price target of $3.10, down from $4.50, citing the potential for a U.S. economic slowdown, coupled with recent weakness in Brazilian hot rolled coil and rebar prices.
Claim 30% 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 GGB: