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CMC

Commercial Metals

$20.94

0.415 (2.02%)

05:23
11/26/19
11/26
05:23
11/26/19
05:23

Commercial Metals initiated with a Market Perform at BMO Capital

BMO Capital analyst Matt Cartoceti initiated coverage of Commercial Metals with a Market Perform rating and $23 price target. Given the uncertainty surrounding the sustainability of current metal margins, the analyst awaits a buying opportunity at lower levels as spreads compress.

CMC Commercial Metals
$20.94

0.415 (2.02%)

09/22/19
GSCO
09/22/19
DOWNGRADE
Target $25
GSCO
Neutral
Alcoa downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Matthew Korn downgraded Alcoa (AA) to Neutral from Buy and lowered his 12-month price target for the shares to $25 from $30. The stock closed Friday down 24c to $21.70. With lower aluminum and alumina prices expected in the near-term and few company-specific catalysts in sight, the near-term outlook for Alcoa shares is less optimistic, Korn tells investors in a research note. The downgrade follows Goldman's more conservative forecasts for aluminum and alumina. Additional upside in Alcoa shares will be limited without a "substantial, better-than-expected" move in the commodity, contends Korn. Further, he believes that a slowing China, growing U.S. steel capacity, and fears of global recession continue to be front of mind for Metals and Mining investors. Korn tonight also downgraded Schnitzer Steel (SCHN) to Sell from Neutral and Commercial Metals (CMC) to Neutral from Buy.
09/23/19
JPMS
09/23/19
DOWNGRADE
JPMS
Underweight
JPMorgan double downgrades AK Steel, cuts U.S. Steel on flattish price outlook
JPMorgan analyst Michael Gambardella earlier today lowered his estimates and price targets for the steel companies to reflect a "more flattish" steel price environment. The analyst also double downgraded AK Steel (AKS) to Underweight from Overweight and downgraded U.S. Steel (X) to Neutral Overweight. He removed U.S. Steel from his firm's Analyst Focus List. The U.S. steel stocks and steel prices have been under pressure this year, which is largely due to concerns about supply additions planned for the next several years, continued uncertainty surrounding trade, and some softening in demand, Gambardella tells investors in a research note. Further, after a brief rebound, steel and scrap prices are now heading lower, adds the analyst. He kept Overweight ratings on Commercial Metals (CMC), Nucor (NUE), Steel Dynamics (STLD), and Stelco Holdings (STZHF).
09/23/19
09/23/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Alcoa (AA) downgraded to Neutral from Buy at Goldman Sachs. 2. Commercial Metals (CMC) was downgraded to Neutral from Buy at Goldman Sachs while Schnitzer Steel (SCHN) was downgraded to Sell from Neutral. 3. AK Steel (AKS) was downgraded to Underweight from Overweight at JPMorgan while Cleveland-Cliffs (CLF) and U.S. Steel (X) were downgraded to Neutral from Overweight. 4. Clorox (CLX) downgraded to Underweight from Equal Weight at Barclays. 5. Spirit Airlines (SAVE) downgraded to Equal Weight from Overweight at Stephens with analyst Jack Atkins saying with its heavy Southeast and Caribbean exposure, Spirit significantly lowered its Q3 guidance in early September due to Hurricane Dorian. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/14/19
EXAN
11/14/19
INITIATION
Target $29.7
EXAN
Outperform
Commercial Metals initiated with an Outperform at Exane BNP Paribas
Exane BNP Paribas analyst Luc Pez initiated coverage of Commercial Metals with an Outperform rating and $29.70 price target.

TODAY'S FREE FLY STORIES

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$35.51

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PLCE

Children's Place

$54.36

-16.31 (-23.08%)

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CVX

Chevron

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RH

RH

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CRWD

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GLD

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DIS

Disney

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DLHC

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TTD

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RIBT

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VMW

VMware

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CS

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PANW

Palo Alto Networks

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PBYI

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GTHX

G1 Therapeutics

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NH

NantHealth

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TWTR

Twitter

$30.56

0.71 (2.38%)

, AAPL

Apple

$270.71

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TWTR

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$30.56

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AAPL

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$270.71

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  • 06

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