When the market wants to like a story, it's not going to let a little
detail like a negative quarterly guidance revision get in the way. With
hot-rolled coil steel prices showing some backbone and expectations for
non-residential construction improving, investors are already giving Steel Dynamics (STLD)
some benefit of the doubt. Improved demand (particularly in
construction) and lower losses at Mesabi Nugget could offer some upside
to EBITDA estimates, but in a market that still has many materials and
resources stocks trading at interesting discounts, Steel Dynamics isn't
among them.
Please follow this link:
The Market Already Looking To A Stronger 2014 For Steel Dynamics
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