KeyBanc Expecting a 'Strong 2H26' for Steel Dynamics (STLD)

KeyBanc analyst Samuel McKinney reiterated an Overweight rating and $262.00 price target on Steel Dynamics (NASDAQ: STLD).

The analyst commented: "Expanding Steel Spreads and Aluminum Progress Setting Up a Strong 2H26; Post STLD's 2Q26 results, we raise our 2026 estimates on sequentially widening steel-to-scrap spreads and continued operational achievements at ADI. We remain intrigued by strong through-cycle FCFE, offering bandwidth to further capital returns, targeted M&A, and nascent exposure to future ADI EBITDA growth in 2027+ when ideal product mix is achieved. We maintain our Overweight rating and price target of $262 on confidence in aluminum upside and potential 2027 EBITDA/EPS power."

For an analyst ratings summary and ratings history on Steel Dynamics click here. For more ratings news on Steel Dynamics click here.

Shares of Steel Dynamics closed at $233.52 yesterday.

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