JPMorgan lowered the firm’s price target on Steel Dynamics (STLD) to $132 from $134 and keeps a Neutral rating on the shares as part of a Q4 earnings preview for North America steel. The firm expects “downbeat” market commentary from management teams with optimism around seasonal re-stocking and trade policy. Weak mid-quarter guides and inflation uncertainty have weighed on steel equities since the start of Q4, the analyst tells investors in a research note.
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