BMO Capital lowered the firm’s price target on Ryerson (RYI) to $24 from $26 and keeps a Market Perform rating on the shares. The company delivered a slight Q1 beat but weaker-than-expected outlook, even though this was explainable by the currently uncertain macro/trade environment, the analyst tells investors in a research note. BMO adds that earnings in Q2 are expected to improve sequentially on higher pricing.
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