Worthington initiated with a Buy at Seaport Research

Seaport Research initiated coverage of Worthington (WOR) with a Buy rating and $55 price target The analyst believes Worthington is a “unique industrial transformation and value story, that should develop into a profitable growth story.” The company makes specialty steel consumer and building products, which should get a positive benefit from the coming U.S. tariffs, the analyst tells investors in a research note. The firm believes the stock is undervalued by 20% to 40%.