KeyBanc Upgrades Olympic Steel (ZEUS) to Overweight

KeyBanc upgraded Olympic Steel (NASDAQ: ZEUS) from Sector Weight to Overweight with a price target of $23. Analyst Philip Gibbs thinks risk-reward is skewed to the upside.

"Our positive view depicts: 1) greater appreciation of underlying profit potential via structural cost reduction momentum and core profitability of contracts; 2) a sizable opportunity for financial de-leveraging; and 3) broad-based attractiveness of deep value metrics," said Gibbs.

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

Shares of Olympic Steel closed at $15.94 yesterday.

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