Goldman Sachs Upgrades Metals USA (MUSA) to Buy; Markets Stable and Opportunities for Growth
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Price: $20.64 --0%
Rating Summary:
2 Buy, 9 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
2 Buy, 9 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade MUSA Now!
Goldman Sachs upgraded Metals USA (NYSE: MUSA) from Neutral to Buy with a price target of $17.00.
Analyst, Sal Tharani, said, "We have been positive on Metals USA’s acquisition strategy and strong end markets for some time but the valuation has looked too rich until this downward swing. Service centers operate as margin businesses and are less affected by low steel prices. We expect prices to come down over the next few months and expect companies like MUSA with strong end markets (autos, oil & gas, marine) to outperform."
Q3/Q4 EPS estimate revised from $0.45/0.32 to $0.37/0.41, citing lag in rolled price realization.
For an analyst ratings summary and ratings history on Metals USA click here. For more ratings news on Metals USA click here.
Shares of Metals USA closed at $14.80 yesterday, with a 52 week range of $7.77-$17.35.
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Analyst, Sal Tharani, said, "We have been positive on Metals USA’s acquisition strategy and strong end markets for some time but the valuation has looked too rich until this downward swing. Service centers operate as margin businesses and are less affected by low steel prices. We expect prices to come down over the next few months and expect companies like MUSA with strong end markets (autos, oil & gas, marine) to outperform."
Q3/Q4 EPS estimate revised from $0.45/0.32 to $0.37/0.41, citing lag in rolled price realization.
For an analyst ratings summary and ratings history on Metals USA click here. For more ratings news on Metals USA click here.
Shares of Metals USA closed at $14.80 yesterday, with a 52 week range of $7.77-$17.35.
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