UPDATE: UBS Starts Reliance Steel & Aluminum (RS) at Buy; Best-in-Class Operator

(Updated - August 23, 2012 11:10 AM EDT)

UBS initiates coverage on Reliance Steel & Aluminum (NYSE: RS) with a Buy. PT $66.00.

Analyst, Shneur Z. Gershuni, said, "RS gives exposure to improving U.S. demand without the new supply/competition seen within the U.S. steel mill segment. Acquisitions will be accretive and offer strong EPS growth upside. Shares currently look attractively valued, and improving non-res construction offers longer term upside.

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 $53.44 yesterday.

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