BofA/Merrill Lynch Downgrades Steel Dynamics (STLD) to Neutral
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BMO Capital Adjusts Estimates on Steel Dynamics (STLD) Following 2Q; Reiterates Outperform
July 20, 2016 9:17 AM EDTBMO Capital reiterated an Outperform rating and $30.00 price target on Steel Dynamics (NASDAQ: STLD) following the company's 2Q earnings report and conference call. BMO is adjusting 3Q estimates lower, from $0.80 to $0.74, and maintains the opinion that STLD represents the best long-term investment in the upstream steel sector.
BMO Capital Analysts commented, "While Steel Dynamics does not provide quantitative forward-looking guidance, in our opinion 3Q will be similar to 2Q, with further... More
