Posts for Ticker ‘CMC’

Top Analyst Downgrades (ALU, CTAS, CCL, CMC, CTV, JNPR, PRU, STI, TLAB)

These are the early analyst downgrades and cautious research calls seen from Wall Street firms this Wednesday morning:

Alcatel-Lucent (ALU) downgraded to Neutral at RW Baird.
Cintas (CTAS) downgraded to Underperform at RW Baird.
Carnival (CCL) downgraded to Neutral at Credit Suisse.
Commercial Metals (CMC) downgraded to Neutral at UBS.
CommScope (CTV) downgraded to Neutral at RW Baird.
Juniper (JNPR) downgraded to Neutral at RW Baird.
Prudential (PRU) downgraded to Equal Weight at Morgan Stanley.
SunTrust (STI) Started as Underperform at Wells Fargo
Tellabs (TLAB) downgraded to Neutral at RW Baird.

JON C. OGG

Posted on: September 23, 2009 – 7:56 am in Analyst Calls, , , , , , , , ,

Goldman Sachs Kicking Steel While It’s Down (AKS, STLD, TX, CMC)

It is a bit surprising when you see a firm like Goldman Sachs downgrade many key steel stocks after their shares have fallen by so much.  That is what we are seeing this morning.  Many steel stocks are down more than 75% from their recent year highs.  It sees lower steel and scrap prices on deteriorated demand in the coming months.  Below is the firm’s downgrade list, although Commercial Metals (NYSE: CMC) was actually upgraded.

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Posted on: October 9, 2008 – 7:28 am in Analyst Calls, Metals, , , ,

Top 10 Pre-Market Analyst Calls (AIG, BBW, CPST, LNG, CMC, DLTR, IMCL, PSUN, TDSC, TAL)

These are ten of the top analyst calls we are seeing this Monday morning:

  • American International Group (NYSE: AIG) Cut to Neutral from Buy at Goldman Sachs.
  • Build-A-Bear Workshop (NYSE: BBW) Cut to Neutral from Outperform at Credit Suisse.
  • Capstone Turbine (NASDAQ: CPST) Started as Buy at Merriman Curhan Ford.
  • Cheniere Energy (AMEX: LNG) Cut to Hold from Buy at Citigroup.
  • Commercial Metals (NYSE: CMC) Started as Buy at UBS.
  • Dollar Tree (NASDAQ: DLTR) Raised to Neutral from Underweight at JP Morgan.
  • ImClone Systems (NASDAQ: IMCL) Cut to Underweight at Morgan Stanley.
  • Pacific Sunwear (NASDAQ: PSUN) Cut to Sell from Buy at Citigroup.
  • 3D Systems (NASDAQ: TDSC) Raised to Neutral from Sell at Piper Jaffray.
  • TAL International (NYSE: TAL) Cut to Neutral from Outperform at Credit Suisse; but Raised to Outperform from Neutral at Baird.

Jon C. Ogg
May 12, 2008

Posted on: May 12, 2008 – 6:31 am in Analyst Calls, , , , , , , , , ,

Goldman Sachs & Massive Steel Prices (X, NUE, ATI, STLD, SCHN, GNA, WOR, AKS, ROCK, RS, CMC)

Goldman Sachs is out with a call raising its steel company earnings targets after above expectation steel prices and tighter supplies that represent a physical steel shortage. It sees some US steel prices rising from $700 recent targets up to a new $850 target per short ton.  It also sees 2009 prices above 2008 prices and sees wider spreads with raw steel compared to scrap costs.

There was one lowered target on Olympic Steel, Inc. (NASDAQ: ZEUS).  Goldman Sachs is raising ZEUS earnings estimates for this year and next, but it is downgrading the stock from Buy to Neutral because its shares are up more than 50% since being added as Buy in November.  It is raising the rating on U.S. Steel (NYSE: X) from neutral to Buy and it has raised targets as well, and it raised 2008 EPS from $11.10 to $14.80 and 2008 from $12.75 to $16.75.

Other estimates are raised in the sector:  Allegheny Tech (NYSE: ATI) was maintained as Buy and saw a slight boost to earnings targets.  Gerdau AmeriSteel (NYSE: GNA), Gibralter Ind. (NASDAQ: ROCK), Reliance Steel (NYSE: RS), Steel Dynamics (NASDAQ: STLD), AK Steel (NYSE: AKS), and Commercial Metals (NYSE: CMC) are all neutral rated but saw estimates raised considerably considering the neutral ratings.

The firm is also positive on Nucor Corp. (NYSE: NUE), which it maintains a Buy rating on and raised estimates sharply on for this year and next.

Goldman Sachs has sell ratings on Worthington (NYSE: WOR) and Schnitzer Steel (NASDAQ: SCHN), although the firm even raised earnings estimates on those two names.

Jon C. Ogg
March 20, 2008

Posted on: March 20, 2008 – 7:29 am in Analyst Calls, Metals, , , , , , , , , , ,