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UPDATE: BMO Capital Markets Initiates Coverage on Commercial Metals Company on Valuation

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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.

Latest Ratings for CMC

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

View More Analyst Ratings for CMC
View the Latest Analyst Ratings

 

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Posted-In: BMO Capital Markets Meredith BandyAnalyst Color Initiation Analyst Ratings

Latest Ratings

StockFirmActionPT
GIKColliers SecuritiesInitiates Coverage On14.0
SANWLake StreetInitiates Coverage On6.0
LILAMorgan StanleyDowngrades15.0
BEJP MorganUpgrades36.0
NEXACredit SuisseUpgrades11.0
View the Latest Analytics Ratings
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