UPDATE: Jefferies Raises PT to $16 on Commercial Metals Company
Jefferies increases its price target $2 to $16 on Hold-rated Commercial Metals Company (NYSE: CMC) following F2Q12 results.
Jefferies says, "We came away from CMC's call somewhat less enthused than after our first read following its explanation of the drivers of the beat in Intl. M&D (not expected to continue) and detail regarding its fabrication outlook. Net net, our F2H12 EPS increased given expected lower losses in Fab, though our out-year forecast and thesis is unchanged. We see risk-reward balanced and maintain our Hold rating."
CMC closed at $14.39 a share yesterday.
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