JP Morgan Maintains Underweight on Steel Dynamics, Raises Price Target to $98
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Bill Peterson has maintained an Underweight rating on Steel Dynamics (NASDAQ:STLD) but increased the price target from $95 to $98.

December 12, 2023 | 4:39 pm
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JP Morgan has reaffirmed its Underweight rating on Steel Dynamics, while raising the price target from $95 to $98.
The increase in price target by JP Morgan may be seen as a slightly positive adjustment, reflecting a potentially more favorable outlook on Steel Dynamics' valuation. However, the Underweight rating suggests that the analyst believes the stock may still underperform the industry or the overall market. Investors might view the price target increase as a modest positive, but the Underweight rating could temper any significant stock price movement.
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