Steel Dynamics (STLD) PT Goes to $25 at Jefferies on Severstal Deal

Jefferies analyst Luke Folta raised his price target on Buy-rated Steel Dynamics (NASDAQ: STLD) to $25.00 (from $21.00) after the company announced $1.6B acquisition of Severstal's Columbus mill and its positive outlook following 2Q14.

"While not in our model until closing, we estimate EPS/FCF accretion from the deal of $0.33/0.54 for 2015E," Folta said.

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 $21.69 yesterday.

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