BofA Merrill Starts Steel Stocks: NUE, ATI, SCHN, RS at Buy, STLD, CMC at Neutral, X, AKS at Underperform

An analyst at BofA Merrill initiated coverage on a number of stocks in the Steel sector Thursday morning:

• Nucor (NYSE: NUE) with a Buy rating and a $50 price target
  
• Allegheny Technologies (NYSE: ATI) with a Buy rating and a $75 price target
  
• Schnitzer Steel (Nasdaq: SCHN) with a Buy rating and a $ price target
  
• Reliance Steel (NYSE: RS) with a Buy rating and a $ price target
  
• Steel Dynamics (Nasdaq: STLD) new Neutral rating and an $18 price target
  
• Commercials Metals (NYSE: CMC) new Neutral rating and an $15 price target
  
• US Steel (NYSE: X) with an Underperform rating and a $42 price target
  
• AK Steel (NYSE: AKS) with an Underperform rating and a $16 price target

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