Jefferies Cuts Numbers on Commercial Metals (CMC)

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Jefferies cut estimates and its price target on Hold-rated Commercial Metals Company (NYSE: CMC) from $16 to $14.

The firm cited deterioration in steel/scrap pricing and a more cautious outlook for global demand.

Q3 EPS goes from $0.35 to $0.32 and FY12 EPS goes from $1.15 to $1.05.

For an analyst ratings summary and ratings history on Commercial Metals Company click here. For more ratings news on Commercial Metals Company click here.

Shares of Commercial Metals Company closed at $12.05 yesterday, with a 52 week range of $8.64-$16.48.

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