Steel Dynamics (STLD) PT Raised to $42 at Cowen on Strong 1Q Report; 'Volume Growth' & 'Healthy Demand to Support Prices'

Cowen raised its price target on Steel Dynamics (NASDAQ: STLD) to $42.00 (from $41.00) while maintaining a Outperform rating, following the company's first quarter earnings report.

Analyst Novid Rassouli notes the company delivered earnings and revenues that beat consensus estimates, as tighter domestic supply resulted in average selling price improvements, while end market recovery led to volume improvements.

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