BMO Capital lowered the firm’s price target on Commercial Metals (CMC) to $58 from $61 and keeps a Market Perform rating on the shares ahead of its Q1 results next week. The firm sees core EBITDA in Q1 declining sequentially on margin compression in North America partially offset by carbon credit received in Europe, the analyst tells investors in a research note. BMO adds however that Q2 earnings will represent a near-term trough, improving in the second half of the year.
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