Steel Dynamics price target raised to $130 from $127 at BMO Capital

BMO Capital analyst Katja Jancic raised the firm’s price target on Steel Dynamics to $130 from $127 and keeps a Market Perform rating on the shares as part of a broader research note previewing Q3 results in Metals & Mining. With many of the commodity prices starting to inflect and trend higher, coupled with declining interest rates, the ongoing China stimulus conversation and M&A activity, the expected sequential decline in earnings for the sector will likely be less impactful, the analyst tells investors in a research note.