Barclays Maintains an 'Equalweight' on Steel Dynamics (STLD); Cutting PT and Estimates

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Barclays maintains an 'Equalweight' on Steel Dynamics (NASDAQ: STLD) price target lowered from $18 to $15.

Analyst, David Gagliano, said, "Following Q1 results, we are lowering our estimates and lowering our target price to $15. We believe Steel Dynamics has some of the best longer-term EBITDA growth potential within the US steel sector due to the potential impact of a recovery in construction-related demand, company-specific cost savings initiatives, and the inherent leverage in STLD's business model."

FY12 lowered from $1.40 to $1.30 and FY13 from $1.79 to $1.65.

For an analyst ratings summary and ratings history on Steel Dynamics click here. For more ratings news on Steel Dynamics click here.

Shares of Steel Dynamics closed at $13.12 yesterday, with a 52 week range of $8.78-$18.96.

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