Morgan Stanley raised its price target on Commercial Metals Company (CMC) to $83 from $75, maintaining an Overweight rating. The stock currently trades at $76.98.
Analyst Carlos De Alba cited the company's position to benefit from wide spreads in long products, leading to material earnings growth. According to Bond.az data, net income is expected to grow this year.
The firm noted the removal of CMC's M&A overhang following recent acquisitions in precast concrete. Morgan Stanley expects the company to focus on deleveraging in 2026.
In other news, UBS upgraded CMC to Buy with an $89 target, while Barclays initiated with Equalweight and a $75 target. CMC also appointed Michael Dumais to its board.
