JPMorgan Cuts Reliance (RS) Price Target But Maintains ‘Overweight’ Stance

Core Viewpoint - Reliance Steel & Aluminum Co. is highlighted as a strong investment opportunity amid US tariffs, with JPMorgan maintaining an 'Overweight' rating despite a slight reduction in the price target from $350 to $345 [1][2]. Group 1: Company Overview - Reliance Steel & Aluminum Co. is the largest metals service center in North America, processing and distributing a wide range of steel products and other metals [4]. - The company offers value-added processing services, including cutting and forming, and manages metal inventories, distributing over 100,000 different metal products to a diverse customer base across various industries [4]. Group 2: Market Position and Strategy - The company is focused on strategic acquisition opportunities and aims to navigate macroeconomic uncertainties while capitalizing on market opportunities [2][3]. - Carla Lewis, President and CEO, emphasized the company's commitment to pursuing acquisition opportunities that expand geographic reach and enhance value-added metal processing solutions, aligning with a strategy of smart profitable growth [3]. Group 3: Analyst Insights - JPMorgan's 'Overweight' rating reflects confidence in the company's growth prospects and long-term outlook, despite the challenges posed by tariffs and macroeconomic conditions [2].