Steel Dynamics (STLD) PT Raised to $241 at KeyBanc on ADI Earnings Optionality

KeyBanc analyst Samuel McKinney raised the price target on Steel Dynamics (NASDAQ: STLD) to $241.00 (from $190.00) while maintaining an Overweight rating.

The analyst commented: "Increasing Price Target to $241 on ADI Earnings Optionality, Improved Steel Spreads; Post STLD's 1Q26 results, we raise our 2026 estimates on solid y/y growth in Steel spreads and continued operational progress 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 increase our price target to $241 on confidence in aluminum upside and potential 2027 EBITDA/EPS power."

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