Brazilian steel maker Gerdau (GGB +3.3%) posts strong gains as Citi takes the shares to Buy from...

|About: Gerdau S.A. (GGB)|By:, SA News Editor

Brazilian steel maker Gerdau (GGB +3.3%) posts strong gains as Citi takes the shares to Buy from Neutral citing projected increases in steel prices and higher sales in the U.S. The bank also expressed a positive forward looking outlook on profits.