Reliance Steel (RS) is upgraded to Buy from Hold with an $89 target price at Dahlman Rose, which...

|About: Reliance Steel & Aluminum Co. (RS)|By:, SA News Editor

Reliance Steel (RS) is upgraded to Buy from Hold with an $89 target price at Dahlman Rose, which sees its acquisition of Metals USA (MUSA) as a perfect fit, adding geographic and product breadth at a fair price. The firm sees the deal as immediately accretive and believes RS shares have more room to rise despite a ~40% rise since October.