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Fly News Breaks for March 9, 2018
X, CMC
Mar 9, 2018 | 05:42 EDT
JPMorgan analyst Michael Gambardella upgraded Commercial Metals (CMC) to Overweight and raised his price target for the shares to $30 from $24 to reflect his expectation for higher steel prices. Tariffs from the 232 ruling and consolidation in the rebar market should lead to higher rebar prices, Gambardella tells investors in a research note. The analyst is also "doubling down" on U.S. Steel (X) and boosted his price target for the shares to $69.
News For CMC;X From the Last 2 Days
X
Apr 23, 2024 | 09:36 EDT
X
Apr 23, 2024 | 08:47 EDT
X
Apr 23, 2024 | 08:43 EDT
Says will continue to buy back stock "hand over fist." Says Cleveland-Cliffs (CLF) "the only U.S. solution" for U.S. Steel (X). Says will have to "re-assess value" of U.S. Steel. Says targeting net debt to EBITDA of 2.5x. Says balance sheet in "great shape, near record liquidity." Sees CapEx ~$1B/year from 2025-2028. Comments taken from Q1 earnings conference call.
