KeyBanc raised the firm’s price target on Reliance, Inc. to $362 from $300 and keeps an Overweight rating on the shares following the strong Q4 results. The firm remains encouraged by Reliance’s strong free cash flow to equity, under-leveraged balance sheet, internal growth investments, and a likely rejuvenated focus on M&A in 2024, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on RS:
- Reliance Steel & Aluminum Rebrands as Reliance, Inc.
- Reliance, Inc. Reports Fourth Quarter and Full Year 2023 Financial Results and Unveils Corporate Rebranding
- Reliance Steel & Aluminum Co. Agrees to Acquire American Alloy Steel, Inc.
- Reliance Steel to acquire American Alloy Steel, terms not disclosed
- RS Earnings this Week: How Will it Perform?