Goldman Sachs initiated coverage of Radius Recycling (RDUS) with a Neutral rating and $22 price target The prevailing sentiment towards the U.S. steel industry seems pessimistic given concerns on global over supply and weak but improving pricing, the analyst tells investors in a research note. The firm is more positive given its belief that both cyclical and structural factors could drive earnings growth for the domestic steel industry despite a weaker global backdrop. Goldman believes the U.S. steel industry and the stocks are near or at the trough of the current cycle.
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Read More on RDUS:
- Schnitzer Steel Industries Appoints New COO for Growth
- Radius Recycling names Marc Hathhorn as COO
- Schnitzer Steel Announces Board Member Resignation
- Schnitzer Steel Expands Board with Industry Veteran
- Radius Recycling report Q4 adjusted EPS (41c) vs. 47c last year
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
