UBS analyst Andrew Jones downgraded Steel Dynamics (STLD) to Neutral from Buy with a price target of $165, up from $158. The firm cites valuation for the downgrade with the shares up 22% since August. Steel Dynamics continues to face a challenging demand environment, the analyst tells investors in a research note.
Claim 30% 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 STLD:
- Steel Dynamics price target raised to $172 from $156 at Goldman Sachs
- Steel Dynamics price target raised to $180 from $150 at Citi
- Steel Dynamics price target raised to $165 from $152 at KeyBanc
- Steel Dynamics price target raised to $173 from $145 at Morgan Stanley
- Steel Dynamics price target raised to $167 from $155 at BMO Capital