Home
Products
Aluminium
Aluminum Strip / Coil Aluminium Sheet / Plate Aluminum Circle / Disk / Disc Aluminum Tread Plate Aluminum Foil
Stainless Steel
Stainless Steel Coil Stainless Steel Sheet and Plate Stainless Steel Welded Pipes / Tubes Stainless Steel Seamless Pipes / Tubes Stainless Steel Checker Plate Stainless Steel Bar
Galvanized steel
Hot Dip galvanized steel coil and sheet Galvalume(55%al-zn) steel coil and sheet PPGI
Pipes and Tubes
Carbon Steel Welded Pipe/Tube Carbon Steel Seamless Pipe/Tube
Fittings
Sanitary Fitting Industry Fittings Fluid Fitting Quick Coupling Butt welded fittings Threaded Fitting High Pressure Fitting
Valves
Sanitary Butterfly Valve Gate Valve Ball Valve
Flange
Copper
Copper Alloy Wire Copper Pipe Copper Foil/ Rolled Copper Foil
About Us
About YUENSENG INTERNATIONAL
Company Information
Our Culture
Our Business
Our Business
News
Company News
Industry News
Contact Us
Contact Us
Industry News
Home Industry News

TimkenSteel stock soars to pace NYSE gainers after KeyBanc analyst says it's time to buy

Views : 263
Update time : 2021-02-24 19:43:44
Shares of TimkenSteel Corp. TMST, +26.83% shot up 32.5% on very heavy volume in afternoon trading Tuesday, enough to pace all of the NYSE's gainers, after KeyBanc Capital analyst Philip Gibbs said it's time to buy the steel maker's stock as the macro recovery is unfolding. Trading volume spiked up to 36.8 million shares, compared with the full-day average of about 372,200 shares. The rally put the stock on track to close at the highest level since May 2019. Gibbs raised his rating to overweight, after being at sector weight since July 2018, and set a $10 target for the stock, which is 19.8% above current levels. Gibbs said his new bullish view "post due diligence" reflects the macroeconomic recovery, better contract and spot pricing and widening raw material spreads, as well as "self-help," which includes cost cuts. The latest available data showed that short interest was 9.72% of the public float. The stock has soared 74.6% over the past three months, while the SPDR Materials Select Sector ETF XLB, +0.35% has tacked on 6.7% and the S&P 500 SPX, +0.13% has gained 8.0%.
Previous :
Next :
Related News
Read More >>
Malaysian Anti-Corruption Commission raids lead to arrest of state official linked to illegal bauxite mining in Kuantan Malaysian Anti-Corruption Commission raids lead to arrest of state official linked to illegal bauxite mining in Kuantan
Nov .18.2024
Malaysian Anti-Corruption Commission raids lead to arrest of state official linked to illegal bauxite mining in Kuantan
Chinalco together with Dalian Liaonan Shipyard unveils joint innovation centre for ship equipment Chinalco together with Dalian Liaonan Shipyard unveils joint innovation centre for ship equipment
Nov .18.2024
Chinalco together with Dalian Liaonan Shipyard unveils joint innovation centre for ship equipment
Aluminium-made figurine installations adorn the Coeur d'Alene public library Aluminium-made figurine installations adorn the Coeur d'Alene public library
Nov .18.2024
Aluminium-made figurine installations adorn the Coeur d'Alene public library
SMM alumina price opens the week with a growth of RMB22/t; Australian alumina FOB price rises by US$37/t SMM alumina price opens the week with a growth of RMB22/t; Australian alumina FOB price rises by US$37/t
Nov .18.2024
SMM alumina price opens the week with a growth of RMB22/t; Australian alumina FOB price rises by US$37/t