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Fly News Breaks for November 24, 2015
SCHN
Nov 24, 2015 | 08:00 EDT
As previously reported, Morgan Stanley upgraded Schnitzer Steel to Equal Weight from Underweight and increased its price target to $21 from $14 on shares. Analyst Evan Kurtz raised his mid-cycle margin forecasts as the company has demonstrated better underlying cash margins throughout this year. Kurtz said Schnitzer's ability to manage costs and generate cash should put a floor on shares.
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