BMO Capital analyst Katja Jancic lowered the firm’s price target on Commercial Metals (CMC) to $54 from $58 and keeps a Market Perform rating on the shares. The company delivered in-line Q2 results and provided a cautiously optimistic outlook with earnings expected to improve in the second half on seasonal demand improvement and better margins in North America, along with some early green shoots emerging in Europe, the analyst tells investors in a research note. BMO adds however that demand outlook currently remains murky while new supply is slated to enter the market.
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