Reliance price target lowered to $330 from $340 at BMO Capital

BMO Capital lowered the firm’s price target on Reliance (RS) to $330 from $340 and keeps an Outperform rating on the shares. The company delivered an in-line quarter, but provided a softer-than-expected Q4 guide, albeit this was somewhat explainable by near-term demand being impacted by the U.S. election uncertainty, the analyst tells investors in a research note.