Schnitzer Steel Q2 earnings missed on higher interest costs, says Goldman Sachs

Goldman Sachs analyst Emily Chieng keeps a Buy rating and $39 price target on Schnitzer Steel, stating that its Q2 earnings miss was the result of higher than expected interest expense. The company’s earnings calls is expected to address its shipment and demand outlook given tight scrap markets and increasing macroeconomic uncertainty, along with expectations for further cost mitigation programs beyond those previously announced, the analyst tells investors in a research note.