BofA analyst Lawson Winder reinstated coverage of Steel Dynamics with a Buy rating and $121 price target. The analyst reinstated coverage of the U.S. steel sector saying a near-term end to destocking could support a modest rebound in key hot rolled coil steel prices. However, there are potential headwinds on recession risks and the risks aren’t all priced into the shares, Winder tells investors in a research note. The analyst suggests investors be selective.
Published first on TheFly
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