Worthington price target raised to $49 from $46 at Canaccord

Canaccord raised the firm’s price target on Worthington (WOR) to $49 from $46 and keeps a Hold rating on the shares. The company reported “strong” fiscal Q2 results in its fourth “clean” reporting quarter without the separated steel business and with the sustainable energy solutions segment in a joint venture, the analyst tells investors in a research note. The firm says that while too early to call a trend, it is becoming more constructive and believes Worthington’s markets are “starting to cooperate.” The company could have a “powerful earnings story over the next few years,” contends Canaccord.