Keybanc Maintains Overweight on Reliance Steel & Aluminum, Lowers Price Target to $290
Portfolio Pulse from Benzinga Newsdesk
Keybanc analyst Philip Gibbs has maintained an Overweight rating on Reliance Steel & Aluminum (NYSE:RS) but lowered the price target from $300 to $290.
October 17, 2023 | 5:48 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Reliance Steel & Aluminum's price target has been lowered from $300 to $290 by Keybanc, though the Overweight rating is maintained.
The news of a lowered price target could potentially have a negative impact on the stock's price in the short term as it may cause investors to reassess their positions. However, the maintained Overweight rating indicates that the analyst still sees the stock as a good investment, which could mitigate some of the potential negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100