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UPDATE: BMO Capital Starts Worthington Industries (WOR) at Market Perform

August 15, 2022 3:45 AM EDT
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Price: $47.47 -1.43%

Rating Summary:
    1 Buy, 7 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 12 | New: 9
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(Updated - August 15, 2022 5:14 AM EDT)

BMO Capital analyst Katja Jancic initiates coverage on Worthington Industries (NYSE: WOR) with a Market Perform rating and a price target of $58.00.

The analyst comments "Worthington is one of the largest NA flat-rolled steel processors and manufacturer of various industrial/consumer products. In our view, Worthington's focus on expanding margins and growing EBITDA/FCF, while reducing earnings volatility and maintaining a balanced capital allocation strategy, offers potential for further multiple expansion longer-term. However, current multiples, and relatively higher steel processing exposure to declining flat-rolled steel, keep us on the sidelines."

For an analyst ratings summary and ratings history on Worthington Industries click here. For more ratings news on Worthington Industries click here.

Shares of Worthington Industries closed at $54.95 yesterday.


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