Goldman Sachs starts MUSA at Neutral

Goldman Sachs has initiated coverage on recent IPO Metals USA Holdings Corp. (MUSA) with a Neutral rating and USD 18 price target. The firm likes the company’s diversified product mix and proven ability to grow through acquisitions, but as the steel price curves flattens they do not see a near-term catalyst for service centers. Metals USA Holdings Corp. provides processed carbon steel, stainless steel, aluminum, and specialty metals, as well as manufactured metal components in the US and Canada.

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