BMO upgrades Steel Dynamics on potential tariffs lift
ReutersMar 31, 2025 10:31 AM
BMO upgrades Steel Dynamics STLD.O to "outperform" from "market perform"
Lifts PT to $145 from $135, representing a 17.4% upside to the stock's last close
Says STLD's product portfolio is relatively well-positioned to benefit from President Donald Trump's expanded tariffs
Adds firm's Sinton steel mill should start contributing to earnings in H2 2025 after weighing on profits since 2022
Signals "healthy" FCF generation in 2025, as STLD approaches the end of its multi-year investment cycle
8 of 15 brokerages rate the stock "buy" or higher, 6 "hold" and 1 "sell"; their median PT is $145 - LSEG data
As of last close, stock had risen 8.2% YTD
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