#4 - Steel Dynamics (NASDAQ:STLD)
Steel Dynamics Inc. (NASDAQ: STLD) is an industry leader that focuses on lower-carbon, high-quality steel products. And its commitment to decarbonization includes its goal to generate 30% of its power to come from renewable electricity.
Steel stocks also appear to be a cautious buy heading into 2025. The bullish case for steel stocks is based on the likelihood of higher tariffs on foreign steel and, potentially, lower corporate interest rates. Both actions would be bullish for corporate earnings.
A potential headwind for steel stocks in general is the current lack of demand, particularly fueled by the automobile sector. Prior to the presidential election, analysts weren’t bullish about that growth, with a consensus price target that indicates STLD stock may have peaked at around $148 per share. However, Steel Dynamics was recently placed on Bank of America’s Value 10 stock list, which highlights stocks with low trailing P/E ratios.
About Steel Dynamics
Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.
Read More - Current Price
- $115.69
- Consensus Rating
- Hold
- Ratings Breakdown
- 2 Buy Ratings, 6 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $144.25 (24.7% Upside)
