Jefferies Cuts Numbers on Steel Dynamics (STLD)

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Jefferies cut estimates and its price target on Steel Dynamics (NASDAQ: STLD) from $17.50 to $15, but maintained a Buy rating on the stock.

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

Q2 EPS goes from $0.28 to $0.22 and FY12 EPS goes from $1.00 to $0.70.

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 $11.02 yesterday, with a 52 week range of $8.78-$16.66.

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