Reliance upgraded to Peer Perform at Wolfe Research following correction

As previously reported, Wolfe Research upgraded Reliance (RS) to Peer Perform from Underperform and removed the firm’s previous $272 price target After the stock’s recent share price correction, the firm considers Reliance “a good defensive play” into a likely volatile 2025 for the sector, says the analyst, who assigns a fair value range of $257-283 for the stock.