BMO Capital Maintains Market Perform on Commercial Metals, Lowers Price Target to $50
Portfolio Pulse from Benzinga Newsdesk
BMO Capital analyst David Gagliano has maintained a 'Market Perform' rating on Commercial Metals (NYSE:CMC) but lowered the price target from $58 to $50.
October 13, 2023 | 2:32 pm
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Commercial Metals' price target has been lowered from $58 to $50 by BMO Capital, though the 'Market Perform' rating is maintained.
The lowering of the price target by BMO Capital indicates a potential decrease in the stock's value. However, the maintenance of the 'Market Perform' rating suggests that the company is expected to perform at the same level as similar companies in the market. This could lead to a short-term negative impact on the stock's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100