UPDATE: Goldman Sachs Downgrades Metals USA Holdings to Hold on Valuation

Goldman Sachs downgraded Metals USA Holdings Corp.

from Buy to Hold and maintained a $20.00 price target. Goldman Sachs said, "Our stocks declined 20% on average in '12 on slowing growth. However, shares have bounced nicely (21%; range=0-60%; cf. S&P's 1%) since 3Q on risk tolerance and commodity gains. Also, the seasonal period to own our coverage stocks is maturing and we use the rally to reduce our Buys given reduced PT upside. … We initiated on MUSA in Sept and its shares have appreciated ~35% with the aid of ‘+' dividend news, and we now see the risk-reward in its shares as balanced pending any growth reacceleration or ‘+' corporate action." Metals USA Holdings closed at $18.00 on Tuesday.