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UPDATE: Jefferies Reiterates On Worthington Industries, Inc. On Improved Cycle Outlook

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In a report published Monday, Jefferies analyst Luke Folta reiterated a Hold rating on Worthington Industries, Inc. (NYSE: WOR), and raised the price target from $39.00 to $41.00.

In the report, Jefferies noted, “Per our analysis, we see N.A. capacity consolidation and tighter global scrap supply supporting higher LT U.S. steel prices (vs prior est.) and we've increased est./TP's accordingly. Global markets however are far weaker and imports continue to increase, leading us to believe near term weakness in steel is likely. With an improved cycle outlook, we advise investors to continue to hold steel stocks, using any such near term pullback to add to positions.”

Worthington Industries, Inc. closed on Friday at $38.39.

Latest Ratings for WOR

DateFirmActionFromTo
Sep 2018JefferiesMaintainsHoldHold
Sep 2018JP MorganMaintainsNeutralNeutral
Apr 2017JefferiesUpgradesUnderperformHold

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Posted-In: Jefferies Luke FoltaAnalyst Color Price Target Analyst Ratings

 

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