Commercial Metals price target raised to $60 from $52 at BMO Capital

BMO Capital raised the firm’s price target on Commercial Metals to $60 from $52 and keeps a Market Perform rating on the shares after its Q2 earnings beat. The company continues to make progress on its growth investments, even though its Arizona 2 ramp-up has been slowed down in response to market conditions, the analyst tells investors in a research note. BMO also maintains that Commercial Metals’ growth investments, product mix, and low-cost structure position it well to benefit from longer-term North America construction and infrastructure tailwind.