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Reliance Steel & Aluminum (RS) Stock Lower Today After Ratings Downgrade
2015-04-14 21:19:01| Steel - Topix.net
The firm said it reduced its rating on the metal services center company as it believes Reliance Steel & Aluminum is leveraged to lower pricing forecasts. "We see 75% of RS's book of business under greater NT pricing pressure than we previously envisioned in our mid-1Q upgrade and our margin inflection more delayed, including weaker 2Q FIFO results," Keybanc said in an analyst note.
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Category:Materials
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