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CMC

Commercial Metals

$21.80

0.11 (0.51%)

18:49
08/13/18
08/13
18:49
08/13/18
18:49

Commercial Metals upgraded to Neutral from Sell at Goldman Sachs

Goldman Sachs analyst Matthew Korn upgraded Commercial Metals to Neutral from Sell and kept his price target at $24. The analyst notes that his prior initiation of the company at Sell in March was based on its "full valuation", but at its current price, the risk-reward on the company is more attractive. Korn adds that there is upside to his estimates on Commercial Metals given the elevated rebar price - a market that is also "poised" for consolidation.

  • 11

    Sep

CMC Commercial Metals
$21.80

0.11 (0.51%)

04/06/18
04/06/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Walmart (WMT) initiated with a Hold at Loop Capital. 2. Hanesbrands (HBI) initiated with a Neutral at BofA/Merrill. 3. Commercial Metals (CMC) initiated with a Buy at Longbow. 4. WageWorks (WAGE) resumed with a Hold at Needham. 5. Werner (WERN) resumed with a Buy at Stifel. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
05/17/18
MACQ
05/17/18
UPGRADE
MACQ
Neutral
Commercial Metals upgraded to Neutral from Underperform at Macquarie
Macquarie analyst David Lipschitz upgraded Commercial Metals to Neutral from Underperform with a $24 price target. The analyst expects rebar prices to stay strong given improving construction activities, supporting earnings for the next few years.
06/19/18
BOFA
06/19/18
DOWNGRADE
Target $23
BOFA
Underperform
Commercial Metals downgraded to Underperform from Neutral at BofA/Merrill
BofA/Merrill analyst Timna Tanners downgraded Commercial Metals to Underperform from Neutral and cut its price target to $23 from $24. The analyst said shares are pricing in better-than-normal earnings power, but he expects rebar imports and domestic to rise into Q4. Tanners believes the rebar markets remain oversupplied and expects new domestic capacity to pressure margins.
06/22/18
JPMS
06/22/18
NO CHANGE
JPMS
Overweight
Commercial Metals to benefit from limited rebar imports, says JPMorgan
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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$NSD

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SYMC

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IBM

IBM

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APO

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QUOT

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XBI

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VIPS

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CIDM

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