Credit Suisse raised the firm’s price target on Steel Dynamics to $106 from $92 and keeps an Outperform rating on the shares. Steel Dynamics Q1-2023 guide exceeded Street expectations owing to volume/cost down leverage in the Mills segment and better Recycling earnings, the firm notes. Credit Suisse expects strong momentum heading into Q2-2023 as HRC prices push to $1,200/st and demand reaches a seasonal peak.
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- Steel Dynamics Provides First Quarter 2023 Earnings Guidance
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