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Fly News Breaks for July 24, 2019
Jul 24, 2019 | 07:54 EDT
BMO Capital analyst David Gagliano raised his price target on Steel Dynamics to $40 and kept his Outperform rating in spite of its Q2 earnings miss. The analyst says he is cautious about the near-term outlook for North American steel prices but also sees some "recent improvement" in the company's underlying fundamentals. Gagliano also believes that Steel Dynamics' current valuation does not account for the benefits of his expected volume growth for the company over the next 3 years.
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