Canaccord Genuity Reiterates a 'Buy' on Schnitzer Steel (SCHN); Strong August Quarter Results Tempered by Weaker N-T Outlook

Canaccord Genuity reiterates a 'Buy' on Schnitzer Steel (NASDAQ: SCHN) price target of $60.00.

Canaccord analyst, Eric Prouty, said, "Schnitzer delivered better-than-expected Aug. quarter results, though current weakness in the metals recycling business tempers the Nov. quarter outlook. We are lowering our estimates, but reiterating our rating as we anticipate the current market weakness will be temporary."

For more ratings news on Schnitzer Steel click here and for the rating history of Schnitzer Steel click here.

Shares of Schnitzer Steel closed at $39.53 yesterday.

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Cantor Fitzgerald Reiterates Overweight Rating on Applied Materials (AMAT)
• Powell Industries (POWL) PT Lowered to $235 at Cantor Fitzgerald