Jefferies Cuts Price Target, Reiterates Buy on Olympic Steel (ZEUS), Says Company Offers Exceptional Value

Article Stock Quotes (1) Comments (0)

Analysts at Jefferies reiterated their Buy rating on Olympic Steel (NASDAQ: ZEUS), but lowered their price target to $22.00 (from $25.00).

Analyst Luke Folta said "We expect ZEUS’ 2Q12 results to miss consensus and recommend reducing exposure heading into Thursday's call. We expect the shares will rise thereafter however in conjunction with improving flat rolled fundamentals given its greatest relative leverage. We reiterate our BUY rating and believe the shares offer exceptional value based on LT cycle earnings potential and depressed valuation (-14% below TBV)."

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 $16.39 yesterday, with a 52 week range of $14.58-$28.31.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• Jefferies Lifts Numbers on Diana Shipping (DSX) Post Q1
• Deutsche Bank Raises PT on NetApp (NTAP) to $48
• Compuware (CPWR) Estimates Trimmed, PT Raised at Jefferies

Create E-mail Alert Related Categories

Analyst Comments, Analyst EPS View, Analyst PT Change

Related Entities

Jefferies & Co, Earnings

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?