BMO lifts U.S. steelmakers’ PTs on strong pricing
04/06/2026 12:27
BUZZ-BMO lifts U.S. steelmakers’ PTs on strong pricing ** BMO raises U.S. steelmakers Steel Dynamics STLD.O and Nucor Corp NUE.N
** Brokerage says past price increases are expected to drive steady earnings growth for sheet steel producers
** BMO notes that current sheet prices will stay elevated for longer, with stronger momentum
** Both Steel Dynamics and Nucor posted a rise in first-quarter profit in April, helped by higher steel prices resulting from tighter supply due to mill outages and imports falling to multi-year lows
** As of last close, STLD up 62.4% and NUE rose 58% YTD
Company | New PT | Old PT |
Steel Dynamics | $296 | $240 |
Nucor | $285 | $250 |
(Reporting by Megavarshini G. Somasundaram in Bengaluru)
((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))
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