Steel Dynamics Shares Up 4% Following Q3 Guidance 
<p><a href='https://financialmodelingprep.com/financial-summary/STLD'>Shares of Steel Dynamics, Inc. (NASDAQ:STLD) </a>are trading around 4% higher today following the company’s Q3 guidance with expected EPS in the range of $4.78 to $4.82. </p>
<p>Analysts at Deutsche Bank raised their price target on the company’s shares to $98 from $72. While concerns of an anticipated correction in steel product pricing likely weighed on the share price (underperforming peers over the last 6 months), the analysts think the company is uniquely positioned with its lagged flow through of spot steel pricing, impressive WC management and the fact that costs are largely contained through its captive iron ore.</p>
<p>Since May, steel equities have largely looked through the earnings upgrades as investors have tried to avoid getting involved at the cyclical peak. This has left the sector on highly attractive valuation metrics, and although Deutsche Bank doesn't disagree that steel prices are likely to come off (from historical highs), it expects several drivers to support margins materially above mid-cycle levels for the next 2-3 years.</p>

NASDAQ:STLD