Russel Metals Inc T.RUS

BMO Bumps TP & Rating

[ace1mccoy]

* After “strong” quarterly results, BMO’s Devin Dodge bumped his Russel Metals Inc. (

RUS-T -1.78%decrease

 

) target to $46 from $44 with an “outperform” rating. The average is $48.81.

 

“We believe RUS is executing well and the pending acquisition of seven facilities from Samuel, Son & Co should provide attractive growth opportunities in its service center division,” said Mr. Dodge. “In addition, the balance sheet remains strong and provides RUS with significant capital deployment flexibility. However, with the P/B ratio currently above its historical average, we believe much of the optimism is reflected in valuation and believe the risk/reward is balanced.”