Olympic Steel price target lowered to $41 from $43 at KeyBanc

KeyBanc analyst Philip Gibbs lowered the firm’s price target on Olympic Steel (ZEUS) to $41 from $43 and keeps an Overweight rating on the shares. Following the company’s Q1 results/our analysis, the firm reduced its 2025 outlook on sticky opex, but expects Q1 was the year’s EPS nadir given lagged contract pricing/timing headwinds. KeyBanc believes Olympic Steel has ample liquidity and likely countercyclical FCFE to continue to augment its M&A growth strategy in the quarters and years ahead.