Worthington price target raised to $54 from $49 at Canaccord

Canaccord raised the firm’s price target on Worthington (WOR) to $54 from $49 and keeps a Hold rating on the shares. The firm said they reported strong FQ3 2025 results in its fifth “clean” reporting quarter without the separated steel business. However, while new distribution wins were a welcome sight and a good reason for exuberance, the stock move appears to be a bit overdone given it was a “less bad” quarter, the company’s insulation from tariffs was already known, and results from product launches are yet to be seen.