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KeyBanc Upgrades (CMC) (NUE) (STLD); Downgrades (RS)

January 14, 2013 10:38 AM EST Send to a Friend
Get Alerts CMC Hot Sheet
Price: $17.28 --0%

Rating Summary:
    5 Buy, 7 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Earlier, KeyBanc upgraded Commercial Metals Company (NYSE: CMC) ($19 PT), Nucor Corporation (NYSE: NUE) ($56 PT) and Steel Dynamics, Inc. (NASDAQ: STLD) ($22 PT) from Hold to Buy.

The firm said the combination of metal spread expansion due to seular pressures in ferrous scrap input costs from enhanced prime supply, leveraged exposure to lagging U.S. non-residential construction markets, solid free cash flow potential, and modest dividend yields make the three stocks their top picks for 2013.

The firm also downgraded Reliance Steel & Aluminum Co. (NYSE: RS) from Buy to Hold, saying they are becoming more cautious on the U.S. service centers, as they see challenging 1H13 volume comps and tepid pricing momentum impacting the industry's ability to achieve meaningful gross margin/profit improvement.

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 $15.42 yesterday.




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