KeyBanc initiates Reliance Steel stock with Overweight rating

KeyBanc initiated coverage on Reliance Steel & Aluminum (NYSE:RS) with an Overweight rating and a $341 price target, citing stronger pricing momentum. The firm increased its 2026 EBITDA and EPS estimates, forecasting higher volumes and pricing in the first quarter of 2026. This positive outlook comes despite recent downgrades from JPMorgan and BMO Capital due to margin pressures and increased administrative expenses.

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