Steel Dynamics price target raised to $185 from $155 at BofA

BofA raised the firm’s price target on Steel Dynamics (STLD) to $185 from $155 and keeps a Buy rating on the shares. The firm is refreshing its price forecasts for North American Metals & Mining stocks under its coverage, the analyst tells investors. The firm sees the macro backdrop as challenging due to China’s slowing commodity demand but notes this may be offset by a rebound in demand in U.S. and Europe.