Olympic Steel price target raised to $43 from $42 at KeyBanc

KeyBanc raised the firm’s price target on Olympic Steel (ZEUS) to $43 from $42 and keeps an Overweight rating on the shares. Following the company’s solid Q4 results and its analysis, the firm trims its 2025 outlook on modest year-over-year expense creep and its expectation that Q1 2025 will be the year’s EPS nadir given lagged contract pricing/timing headwinds. KeyBanc believes Olympic Steel has ample liquidity and likely counter-cyclical FCFE to continue to augment its M&A growth strategy in the quarters and years ahead.