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Fly News Breaks for June 19, 2018
CMC
Jun 19, 2018 | 07:06 EDT
BofA/Merrill analyst Timna Tanners downgraded Commercial Metals to Underperform from Neutral and cut its price target to $23 from $24. The analyst said shares are pricing in better-than-normal earnings power, but he expects rebar imports and domestic to rise into Q4. Tanners believes the rebar markets remain oversupplied and expects new domestic capacity to pressure margins.
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