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Fly News Breaks for June 22, 2018
CMC
Jun 22, 2018 | 10:22 EDT
JPMorgan analyst Michael Gambardella keeps an Overweight rating on shares of Commercial Metals and establishes a December 2019 price target of $30. Section 232 tariffs will limit imports of rebar from large exporters like Turkey while the company's pending acquisition of Gerdau's rebar assets will further consolidate the U.S. market, Gambardella tells investors in a research note. He remains positive on the shares.
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