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Fly News Breaks for June 8, 2017
CMC
Jun 8, 2017 | 06:38 EDT
BofA/Merrill analyst PT Luther downgraded Commercial Metals to Neutral and lowered his price target for the shares to $19 from $21. The Department of Commerce yesterday issued a "disappointing" final result in its administrative review of Turkish rebar imports, Luther tells investors in a research note. The news caps a "generally lackluster stretch" of trade case results against the primary source of rebar import, the analyst adds. He now expects rebar import pressure from Turkey to persist and views the valuation of Commercial Metals as fair.
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