As previously reported, Wolfe Research analyst Timna Tanners upgraded Steel Dynamics (STLD) to Peer Perform from Underperform and removed the firm’s prior $106 price target The upgrade reflects “tariff-juiced results” in 2025 and better free cash flow in 2026, the analyst tells investors. However, the valuation looks “full,” including the benefit from its new aluminum rolling mill, which could disappoint near term, the analyst added.
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