DA Davidson upgrades a couple steel names today, citing optimism for a seasonal upturn in scrap...

|By:, SA News Editor

DA Davidson upgrades a couple steel names today, citing optimism for a seasonal upturn in scrap prices. It upgrades Schnitzer Steel (SCHN -2%) and Sims Metal (SMS -0.2%) both to Buy (I , II). SCHN also reported a solid FQ4 yesterday, which Davidson says should provide added momentum over the near term