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Fly News Breaks for December 14, 2015
STLD
Dec 14, 2015 | 07:27 EDT
Nomura analyst Alexander Burnes upgraded Steel Dynamics to Buy and increased his price target to $21 from $20 on shares. Burnes believes the second half of 2015 will be the trough for U.S. mini-mills' margins and expects EBITDA and cash flow inflection in 2016. The analyst expects a moderate steel price recovery from destocking and import relief combined with sustained pressure on global ferrous raw materials and for the company to use its balance sheet and cash flow to capitalize on current market dislocations.
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