JPMorgan lowered the firm’s price target on Steel Dynamics (STLD) to $132 from $134 and keeps a Neutral rating on the shares as part of a Q4 earnings preview for North America steel. The firm expects “downbeat” market commentary from management teams with optimism around seasonal re-stocking and trade policy. Weak mid-quarter guides and inflation uncertainty have weighed on steel equities since the start of Q4, the analyst tells investors in a research note.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on STLD:
- Trump Trade: Canada planning retaliatory tariffs on $105B of U.S. goods
- Trump’s team discussing gradual tariff increases, Bloomberg reports
- Early notable gainers among liquid option names on January 13th
- Trump Trade: EV ‘battery belt’ towns betting Trump won’t remove subsidies
- Trump says WaPo ‘incorrectly stated’ tariff policy will be pared back