Russel Metals Inc. (RUS:CA)
Analyst Update
Scotiabank raised its 12 month target price on Russel Metals to $52.00 from $48 per share, reflecting reinforcing confidence in the company’s position as a major North American metals distributor and supportive industrial demand dynamics. The analysts adjusted their forecast to reflect the recent stock valuation, suggesting that Scotiabank expects continued strength in metals distribution and industrial demand, along with solid execution on cost control and pricing. By adjusting the target upward, Scotiabank is signaling that key drivers like construction activity, inventory restocking, and infrastructure spending may support better revenue and profit trends than previously anticipated, even as broader economic uncertainty persists.
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