UPDATE: BMO Capital Markets Initiates Coverage on Commercial Metals Company on Valuation
In a report published Wednesday, BMO Capital Markets analyst Meredith Bandy initiated coverage on Commercial Metals Company (NYSE: CMC) with an Outperform rating and $19.00 price target.
In the report, BMO Capital Markets noted, “BMO Research is initiating coverage of Commercial Metals Company with an Outperform rating and US$19 target price. CMC trades at the lowest valuation based on adjusted EV/EBITDA, Dividend Yield and FCF Yield. The company is also leveraged to non-residential construction that is expected to improve over the next 1-2 years. CMC's balance sheet appears manageable with Net Debt to EBITDA levels below 3x.”
Commercial Metals Company closed on Tuesday at $16.57.
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