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Schnitzer Steel recoups yesterday's losses and more, as BofA ups to Buy

Jul. 01, 2015 10:26 AM ETRadius Recycling, Inc. (RDUS) StockRDUSBy: Carl Surran, SA News Editor2 Comments
  • Schnitzer Steel (SCHN +17.3%) bounces back big from yesterday's near-10% drubbing, as the stock price pushes back over the $20 mark for the first time since January.
  • SCHN fell yesterday in reaction to mostly disappointing FQ3 results which were hurt by weak ferrous selling prices.
  • BofA/Merrill upgraded shares to Buy from Underperform with a $21 price target this morning, believing FQ3 results were a trough and noting steadier scrap prices, cost savings and valuation.

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