JP Morgan Maintains Underweight on Steel Dynamics, Raises Price Target to $118
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Bill Peterson maintains an Underweight rating on Steel Dynamics (NASDAQ:STLD) and raises the price target from $100 to $118.
April 16, 2024 | 2:02 pm
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JP Morgan maintains an Underweight rating on Steel Dynamics but increases the price target from $100 to $118.
While the Underweight rating suggests a cautious view on the stock, the increase in price target from $100 to $118 indicates a positive adjustment in valuation expectations. This mixed signal could lead to neutral short-term price movement as investors digest both the continued caution and the raised valuation outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100