BMO Capital analyst Katja Jancic raised the firm’s price target on Reliance Steel to $265 from $235 and keeps an Outperform rating on the shares after its Q4 earnings beat. The company is relatively well positioned to continue delivering resilient through-cycle performance, with free cash flow and healthy balance sheet that are supportive of its ongoing margin-enhancing organic or inorganic investments, the analyst tells investors in a research note.
Published first on TheFly
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- Reliance Steel & Aluminum Co. Reports Fourth Quarter and Full Year 2022 Financial Results
- Reliance Steel sees Q1 adjusted EPS $5.40-$5.60, consensus $4.92
- Reliance Steel reports Q4 adjusted EPS $5.87, consensus $4.47
- Reliance Steel & Aluminum Co. to Announce Fourth Quarter and Full Year 2022 Results on Thursday, February 16th
- Reliance Steel price target raised to $235 from $225 at KeyBanc
