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UPDATE: Jefferies Downgrades Metals USA Holdings to Hold Following Acquisition Offer

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Earnings Scheduled For November 1, 2017

Jefferies downgraded Metals USA Holdings (NYSE: MUSA) from Buy to Hold and raises the price target from $19.00 to $20.65.

Jefferies commented, "Yesterday, RS announced it has agreed to acquire MUSA for $20.65/sh. With a higher offer unlikely to emerge in our view, a near zero likelihood that RS will be unable to complete the deal and with MUSA shares now reflecting full value based on revised est., we cannot argue further upside for the shares and lower our rating to HOLD from BUY."

Metals USA Holdings closed at $20.65 on Wednesday.

Latest Ratings for MUSA

DateFirmActionFromTo
Nov 2017JP MorganDowngradesNeutralUnderweight
Aug 2017Stephens & Co.DowngradesOverweightEqual-Weight
Jul 2017JefferiesMaintainsBuy

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