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STLD

Steel Dynamics

$41.32

0.77 (1.90%)

09:00
10/19/18
10/19
09:00
10/19/18
09:00

Steel Dynamics price target lowered to $53 from $60 at BMO Capital

BMO Capital analyst David Gagliano lowered his price target on Steel Dynamics to $53 after its in-line Q3 results, noting that Q4 should decline sequentially due to lower prices and seasonally lower volumes. The analyst also keeps his Outperform rating longer term, maintaining his view that the company is "well positioned to benefit from a higher for longer steel pricing cycle".

STLD Steel Dynamics
$41.32

0.77 (1.90%)

10/02/18
DBAB
10/02/18
NO CHANGE
DBAB
Deutsche downgrades Reliance, U.S. Steel on more cautious steel stance
To reflect a more cautious view on steel stocks, Deutsche Bank analyst Chris Terry downgraded both Reliance Steel (RS) and U.S. Steel (X) to Hold from Buy. The analyst says his view on the sector is "moderating post peak pricing." Most positive data points and catalysts have now largely played out, Terry tells investors in a research note. The analyst, however, keeps Buy ratings on Commercial Metals (CMC), Nucor (NUE) and Steel Dynamics (STLD) citing more favorable risk/reward profiles.
10/11/18
GHSC
10/11/18
INITIATION
Target $55
GHSC
Buy
Steel Dynamics initiated with a Buy at Seaport Global
Seaport Global analyst Derek Hernandez initiated Steel Dynamics with a Buy and $55 price target saying its vertically integrated EAF platform is well suited to navigate the US steel market. Hernandez believes Steel Dynamics valuation reflects an overly pessimistic view of the steel sector and overly discounts the company's earnings potential, creating a buying opportunity in shares.
10/15/18
FBCO
10/15/18
DOWNGRADE
FBCO
Neutral
Steel Dynamics downgraded to Neutral from Outperform at Credit Suisse
10/15/18
FBCO
10/15/18
NO CHANGE
FBCO
Neutral
Credit Suisse downgrades U.S. Steel sector along with three stocks
Credit Suisse analyst Curt Woodworth downgraded his view on the U.S. Steel sector to Market Weight from Overweight due to concerns with new supply entering the sheet market as well as with U.S demand as interest rates rise. The analyst sees "limited potential for multiple expansion given late cycle fears." Further, in addition to cycle concerns and new supply risk, capital allocation by companies has disappointed relative to investors "wish lists," Woodworth tells investors in a research note. Along with the sector, the analyst downgraded Nucor (NUE), Steel Dynamics (STLD), and Cleveland-Cliffs (CLF) to Neutral from Outperform. Woodworth keeps Outperform ratings on US Steel (X) and AK Steel (AKS) as he sees upside to Street estimates on better 2019 contract pricing as well as more attractive valuations relative to historical forward multiples.

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