Jefferies raised the firm’s price target on Steel Dynamics (STLD) to $190 from $180 and keeps a Buy rating on the shares. The analyst notes that U.S. steel prices have risen in recent weeks as imports continue to decline and inventory levels fall, arguing that risk to consensus forecasts is “to the upside.”
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge-fund level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
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 $190 from $165 at JPMorgan
- Steel Dynamics Completes Acquisition of New Process Steel
- Steel Dynamics price target raised to $185 from $155 at BofA
- Steel Dynamics Completes $792 Million Notes Sale
- EU to warn against U.S. expanding scope of steel tariffs, Bloomberg reports