UBS analyst Andrew Jones upgraded Steel Dynamics (STLD) to Buy from Neutral with a $149 price target Tariff protection for U.S. steel and aluminum has exceeded the firm’s expectations since the election, resulting in a significant rally in hot-rolled coil steel prices, the analyst tells investors in a research note. Meanwhile, the stock has sold off and de-rated with the sell off in the broader market amid the escalating trade war, the firm says. The firm sees a good entry point for Steel Dynamics with earnings momentum from Q2, upside risk to consensus if spot HRC holds, and a more supportive valuation.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on STLD:
- Steel Dynamics upgraded to Buy from Neutral at UBS
- Steel Dynamics: Strong Earnings Guidance and Strategic Growth Drive Buy Rating
- What EU Steel Import Limits Mean for U.S. Stocks
- Trump Trade: Reciprocal tariffs still to start on April 2
- Trump still intends for reciprocal tariffs to start on April 2, Reuters says
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue