UPDATE: D.A. Davidson Reiterates Buy Rating, Lowers PT on Commercial Metals Company Following Strong Q4 Earnings

In a report published Thursday, D.A. Davidson analyst Brent Thielman reiterated a Buy rating on Commercial Metals Company CMC, but lowered the price target from $23.00 to $21.00. In the report, D.A. Davidson noted, “Commercial Metals Company reported Q4 earnings of $0.29 per share compared to $0.19 last year. Results were above our (and consensus) estimate of $0.24. Revenue of $1,903.2 million (+12% year-over-year) exceeded our estimate of $1,807.0 million.” Commercial Metals Company closed on Wednesday at $16.98.