tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

Steel Dynamics price target raised to $150 from $138 at JPMorgan

JPMorgan raised the firm’s price target on Steel Dynamics (STLD) to $150 from $138 and keeps a Neutral rating on the shares. The firm adjusted steel price targets ahead of the Q2 reports. It increased the targets to reflect the multiple re-rating off President Trump’s “Liberation Day” lows and a higher price floor. The protectionism and national security backing from the Trump administration warrant a valuation premium for U.S. mills on higher through-cycle pricing, the analyst tells investors in a research note.

Elevate Your Investing Strategy:

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Disclaimer & DisclosureReport an Issue

1