JPMorgan ups Reliance target, opens ‘Positive Catalyst Watch’

JPMorgan raised the firm’s price target on Reliance (RS) to $340 from $330 and keeps a Neutral rating on the shares. JPMorgan also added a “Positive Catalyst Watch” on Reliance into the Q1 report. The company should offer detail on its new multi-year contracts, which may be underappreciated by the market, the analyst tells investors in a research note.