KeyBanc raised the firm’s price target on Universal Stainless & Alloy to $46 from $36 and keeps an Overweight rating on the shares. Post strong Q2 results, the firm meaningfully raised its 2024-2025 given much stronger gross margins driven by pricing/mix and sustainable cost reductions. KeyBanc continues to see Universal Stainless & Alloy on track for increasing margin/EPS growth momentum and aggressive debt reduction potential.
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