RBC Capital analyst James McGarragle upgraded Russel Metals (RUSMF) to Outperform from Sector Perform with a price target of C$51, up from C$45. The company is “trading on trough earnings on trough valuation,” in addition to operating in an improving steel environment and having further upside related to the Samuel integration, the analyst tells investors in a research note.
Claim 55% 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 RUSMF:
- Russel Metals price target raised to C$57 from C$54.50 at Stifel
- Russel Metals (RUSMF) Discloses Q4 Dividend: What Shareholders Should Know
- Russel Metals price target raised to C$54.50 from C$53 at Stifel
- Russel Metals price target raised to C$56 from C$50 at Raymond James
- Russel Metals Acquires Tampa Bay Steel