Steel Dynamics

STLD · NASDAQ

$244.37−$0.80 (−0.33%)TodayMarket closed · Oct 20, 7:45 PM ET

Prev close $245.17

STLD analyst rating

BuyConsensus of 12 analysts over the last 12 months. 58% rate it a buy.

Strong buy0
Buy7
Hold5
Underperform0
Sell0

12-month price target · 18 analysts

Average $270.92 (+10.9% upside)

Low: $204.14
Now: $244.37
High: $325.50

Upgrades and downgrades

The latest rating actions, newest first

STLD analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Barclays	Oct 19, 2026	Maintains	Overweight	$272.00 → $285.00	57%
JP Morgan	Oct 9, 2026	Maintains	Neutral	$272.00 → $260.00	54%
JP Morgan	Sep 18, 2026	Maintains	Neutral	$273.00 → $272.00	58%
Wells Fargo	Sep 18, 2026	Maintains	Overweight	$255.00 → $257.00	55%
JP Morgan	Sep 9, 2026	Maintains	Neutral	$260.00 → $273.00	58%
Wells Fargo	Aug 24, 2026	Maintains	Overweight	$275.00 → $255.00	55%
UBS	Aug 10, 2026	Maintains	Neutral	$165.00 → $276.00	29%
Wells Fargo	Jul 22, 2026	Maintains	Overweight	$291.00 → $275.00	55%
Morgan Stanley	Jul 22, 2026	Maintains	Equal-Weight	$270.00 → $260.00	53%
JP Morgan	Jul 22, 2026	Maintains	Neutral	$256.00 → $260.00	54%

The case for and against

Updated Apr 10, 2025

Bull case

Steel Dynamics Inc. is expected to experience positive momentum as demand and pricing for its steel products are projected to improve in 2025, following a healthy fabrication backlog that extends through the first quarter of that year. The company’s ongoing organic investments are anticipated to enhance through-cycle profitability, supported by a robust balance sheet that provides financial flexibility for growth opportunities. Additionally, the strong performance of its Mini Mill segment, particularly with the ramp-up of the new Big River EAF mill, is expected to contribute significantly to earnings, leading to a projected EBITDA of $1.78 billion for 2026.

Bear case

Steel Dynamics Inc is facing significant challenges that contribute to a negative outlook for its stock. The company is experiencing subdued earnings in the near term, alongside operational hurdles, particularly at the Sinton facility, which has operated at only 72% capacity, thereby impacting EBITDA. Additionally, the domestic steel market is under pressure from declining finished steel imports, increased competition from foreign steel sources, and potential adverse effects from typical seasonal declines in demand, all of which may hinder the company's financial recovery efforts.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.