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Shares of Commercial Metals Co. (CMC) recently traded at $42.05, surpassing the average analyst 12-month target price of $41.50. This shift prompts analysts to consider either downgrading the stock on valuation grounds or revising their target price upward.
Within the Zacks coverage universe, six analysts provide insights on CMC, with target prices ranging from $36.00 to $45.00. The current average rating for CMC stands at 1.8, indicating a consensus of “Strong Buy” from three analysts and two “Hold” ratings. Notably, there have been no “Sell” or “Strong Sell” ratings.
As analysts reassess their perspectives given the stock’s performance, investors are encouraged to determine whether the recent price movement indicates potential for further gains or a need to reevaluate their positions.
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