FYI: RBC comments :>(( 08:15 AM EDT, 10/13/2022 (MT Newswires) -- RBC Capital Markets lowered its price target on Russel Metals Inc. (RUS.TO) to $35 from $42 on Thursday.
Analyst Alexander Jackson maintained an Outperform rating on shares of the Canadian metals distribution and processing company ahead of its third quarter results.
'We forecast weaker results q/q for Russel with margins compressing in the Metals Service Center (MSC) and the Metals Distributor segments on falling steel prices," Jackson said in a note to clients.
"Despite the weaker expected quarter, we continue to like Russel for its diverse customer base and improving through the cycle margin profile with investment in value added processing and a growing MSC footprint," the analyst said.
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