Dahlman Rose Upgrades Reliance Steel & Aluminum (RS) to Buy on MUSA Deal

February 7, 2013 8:16 AM EST
Get Alerts RS Hot Sheet
Price: $81.19 +1.73%

Rating Summary:
    7 Buy, 9 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 19 | Down: 19 | New: 13
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Dahlman Rose upgraded Reliance Steel & Aluminum (NYSE: RS) from Hold to Buy with a price target of $89, following the acquisition of Metals USA.

"In acquiring MUSA, RS adds geographic and product breadth at a fair price," the firm said. We see the deal as immediately accretive and believe the shares have more room to rise."

For an analyst ratings summary and ratings history on Reliance Steel & Aluminum click here. For more ratings news on Reliance Steel & Aluminum click here.

Shares of Reliance Steel & Aluminum closed at $70.25 yesterday.

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