February 07, 2013 at 10:07 AM EST
Dahlman Rose Upgrades Reliance Steel to “Buy” (RS)

Analysts at Dahlamn Rose upgraded metal services company Reliance Steel & Aluminum (RS) on Thursday citing a positive view of a deal with Metal USA.

The analysts upgraded RS from “Hold” to “Buy” with a price target of $89. This target suggests a 27% upside to Wednesday’s closing price of $70.25.

Dahlman analysts say that deal for Reliance Steel to acquire Metal USA should add to the Los Angeles-based company’s earnings.

Reliance Steel shares were down slightly during morning trading on Thursday. The stock is up +28.17% over the past year.

The Bottom Line
Shares of Reliance Steel (RS) have a dividend yield of 1.43% based on Thursday’s intraday trading price of $69.70 and the company’s annualized dividend payout of $1.00 per share.

Reliance Steel & Aluminum (RS) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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