Market Overview

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.

Posted-In: JefferiesAnalyst Color Price Target Reiteration Pre-Market Outlook Analyst Ratings

 

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