Jefferies lowered the firm’s price target on Janus to $12 from $15 and keeps a Buy rating on the shares as the firm notes that with steel prices falling sharply, Janus has cut prices by a high-single digit percentage for jobs it’s bidding out for the first half of 2025. The firm had been hoping prices would stabilize, so the news is “disappointing” and the firm thinks EBITDA is likely to be down in 2025 even though Janus is able to hold margins, the analyst tells investors. The firm is lowering estimates, but believes the stock “offers good value,” the analyst added.
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