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Fly News Breaks for September 7, 2018
RS
Sep 7, 2018 | 05:59 EDT
BofA/Merrill analyst Timna Tanners double downgraded Reliance Steel to Underperform from Buy and cut its price target to $90 from $107 saying he is cautious over late cycle earnings. Tanners expects margins to be "squeezed" on flat to lower commodity prices and see risks that non-res construction is nearer a peak.
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