B of A Securities Downgrades Gerdau: Here's What You Need To Know

B of A Securities downgraded its rating of Gerdau GGB to Neutral with a price target of $5.10, changing its price target from $5.60 to $5.10.

Shares of Gerdau are trading down 2.31% over the last 24 hours, at $4.81 per share.

A move to $5.10 would account for a 6.03% increase from the current share price.

About Gerdau

Gerdau SA produces steel and steel products. The company operates in civil construction, agriculture, automotive, iron ore, exports, research and development, and home steel products sectors. It offers products such as nails, rebar, columns, billets, slabs, tribar tutor, mechanical construction bars, reinforced steel locks. The company's geographical segment includes Brazil Operations; North America Operations; South America Operations as well as Special Steel Operations. It derives most of the revenue from the Brazil Operations segment.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.