RBC Capital Bumps Up Russel Metals Price Target By 2.5%

Akanksha Bakshi

Mon, Apr 18, 2022, 11:22 AM1 min read

In this article:

RBC Capital analyst Alexander Jackson raised the price target for Russel Metals Inc (TSX: RUS) (OTC: RUSMF) to C$41 from C$40 to incorporate higher near-term steel prices.
The analyst maintained the Outperform rating on the shares.
Jackson believes Russel will report a strong quarter that, excluding 2021, ranks as one of the company's best in terms of EBITDA generation despite a lower avg. Steel price in Q1 and some logistics challenges to start the year.
The analyst expects Russel's repositioning to reduce volatility and grow margins to continue to bear fruit throughout 2022 and management to navigate steel price volatility as they have over the prior two years.
Price Action: RUS shares are trading higher by 5.36% on TSX at C$34.39 and RUSMF higher by 4.43% at $26.87 on the last check Monday.

Latest Ratings for RUSMF

Mar 2021	Scotiabank	Downgrades	Outperform	Sector Perform
Oct 2019	TD Securities	Downgrades	Buy	Hold

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RBC Capital Bumps Up Russel Metals Price Target By 2.5%

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