KeyBanc reiterates ‘buy’ rating on Reliance
Apr 01, 2010 | 08:44 AM
| Corinna Petry
KeyBanc Capital Markets Inc. has reiterated its "buy" rating on shares of Reliance Steel & Aluminum Co., the nation's largest service center chain.
The Cleveland-based investment bank made the decision "given improving evidence of gradual demand and pricing recovery off 2009 trough levels and increased conviction for (inventory management) gross margin expansion" into the next two quarters, analyst Mark L. Parr said in a research note Thursday. "We sense margins will also be aided (through) unlocking the potential of the PNA (Group Inc.) acquisition, which....
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