KeyBanc lowered the firm’s price target on Reliance (RS) to $321 from $325 given lower earnings estimates, while keeping an Overweight rating on the shares. After conducting its Q4 Sheet on the Street Survey of carbon sheet product distributors and due diligence, the firm maintains a balanced view on carbon steel equities.
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Read More on RS:
- Reliance upgraded to Peer Perform at Wolfe Research following correction
- Reliance upgraded to Peer Perform from Underperform at Wolfe Research
- Reliance Steel Announces Board Member Retirement Plan
- Reliance participates in a conference call with JPMorgan
- Reliance initiated with a Neutral at Goldman Sachs