Steel Dynamics price target raised to $173 from $145 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Steel Dynamics (STLD) to $173 from $145 and keeps an Overweight rating on the shares. The completion of the company’s capex cycle in 2025 with two major recent investments – the state-of-the-art Sinton EAF and a new aluminum rolling mill – clears the way for higher through-the-cycle free cash flow generation and potentially higher shareholder returns, the analyst tells investors.