Macquarie Upgrades Steel Dynamics (STLD) to Outperform, "Demand up; spreads look sustainable"

April 24, 2017 6:47 AM EDT
Get Alerts STLD Hot Sheet
Price: $77.83 -0.24%

Rating Summary:
    14 Buy, 8 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 4 | Down: 17 | New: 8
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Macquarie upgraded Steel Dynamics (NASDAQ: STLD) from Neutral to Outperform with a price target of $44.00 (from $38.00).

Analyst Aldo Mazzaferro sees demand improving and is bullish on the pricing against scrap costs as supply tightens, inventory remains low, and tariffs are steep.

He raises FY 2017 EPS estimate from $3.00 to $3.60, raises FY 2018 EPS estimate from $3.35 to $4.20 and raises FY 2019 EPS estimate from $3.70 to $4.60.

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 $35.37 Friday.

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