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Why Steel Dynamics (STLD) Was Downgraded

2014-02-25 01:06:34| Steel - Topix.net

Analyst Philip Gibbs wrote, "We are downgrading shares of Steel Dynamics, Inc. to HOLD from BUY on valuation [blended EV/EBITDA multiple on our 2014/2015 expectations of 6.8x vs. normalized range of 5-8x] and more cautious near-term expectations as flat rolled spreads decline and Metals Recycling profitability struggles in 1H14."

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