UPDATE: BMO Capital Starts Worthington Industries (WOR) at Market Perform
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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."
Shares of Worthington Industries closed at $54.95 yesterday.
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