UPDATE: D.A. Davidson & Co. Reiterates On Commercial Metals As Americas Mills Shines, Other Operations Are Mixed

In a report published Monday, D.A. Davidson & Co. analyst Brent Thielman reiterated a Buy rating on Commercial Metals Company (NYSE: CMC), but lowered the price target from $25.00 to $23.00.

In the report, D.A. Davidson & Co. noted, “CMC posted solid results for its Americas Mills segment, with unit margins of $101 per ton and 15% year-over-year volume growth. As anticipated, volumes were higher on a sequential basis reflecting seasonal construction growth; these favorable trends appear to be continuing into Summer. We view the results as notable considering the relatively low levels of construction activity, somewhat dispersed demand regionally, and heavy import levels.”

Commercial Metals closed on Friday at $17.35.