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UPDATE: Jefferies Upgrades Commercial Metals Company to Buy on Compelling Upside, Risk/Reward


In a report published Friday, Jefferies analyst Luke Folta upgraded the rating on Commercial Metals Company (NYSE: CMC) from Hold to Buy, and reiterated the $17.00 price target.

In the report, Folta noted, “Following its -20% pullback from recent peaks, we see a compelling investment case for CMC, with upside driven by potential non-resi recovery and downside supported by its relatively high dividend yield. If willing to assume non-resi fully recovers in the coming years, one need not assume any recovery in its currently troubled Polish steel and Intl. M&D businesses to justify attractive risk-reward, in our view.”

Commercial Metals Company closed on Thursday at $14.15.

Latest Ratings for CMC

Apr 2021Goldman SachsInitiates Coverage OnSell
Jan 2021Deutsche bankDowngradesBuyHold
Dec 2020Exane BNP ParibasDowngradesOutperformNeutral

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Posted-In: JefferiesAnalyst Color Upgrades Analyst Ratings

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