Reliance, Inc. price target raised to $350 from $300 at Seaport Research

Seaport Research raised the firm’s price target on Reliance, Inc. to $350 from $300 and keeps a Buy rating on the shares post the Q4 report. The rebranding to Reliance, Inc. helps disassociate the company as a “traditional metals company,” the analyst tells investors in a research note. The firm says Reliance’s volatility across metrics is notably lower versus metals companies, and its return profile is usually superior to others within the broader industrials space.