Citi Has Buy Rating On Steel Dynamics Inc (STLD)

Citi Investment Research has a Buy rating and a $21 price target on shares of Steel Dynamics Inc STLD. In a note to clients, Citi writes, "Late last week, we hosted meetings with Mr. Keith Busse (Chairman and CEO) and Mr. Gary Heasley (EVP of Business Development) in Fort Wayne, IN, and toured a couple of mills. Post meetings, we continue to see STLD executing a step ahead of its peers and leveraging its cost position to grab share as the US steel market continues to recover. With steel demand likely to remain strong in most markets through 2Q, we remain buyers of STLD." Shares of STLD lost 8 cents on Friday to close at $18.10, a loss of 0.44%.