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Fly News Breaks for February 19, 2016
RS
Feb 19, 2016 | 08:17 EDT
As previously reported, BofA/Merrill downgraded Reliance Steel to Neutral from Buy and raised its price target to $62 from $59 on shares. Analyst Timna Tanners expects a muted price environment and limited catalysts for 2016, with a substantial fall in Reliance's free cash flow. Tanners expects consensus estimates to fall and limited M&A until there is more substantial recovery.
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