Price Target Update on Gerdau S.A. (NYSE:GGB)

Gerdau S.A. (NYSE:GGB) : The most positive equity analysts on Gerdau S.A. (NYSE:GGB) expects the shares to touch $6, whereas, the least positive believes that the stock will trade at $2 in the short term. The company is covered by 2 Wall Street Brokerage Firms. The average price target for shares are $3.95 with an expected fluctuation of $2.9 from the mean.

Other Equity analysts have also commented on the company shares. In a research note released to the investors, Bank of America downgrades its rating on Gerdau S.A. (NYSE:GGB).The analysts at the brokerage house have a current rating of Underperform on the shares. Earlier, the shares were rated a Neutral by the brokerage firm. The rating by the firm was issued on February 22, 2016.

Gerdau S.A. (NYSE:GGB): stock turned positive on Thursday. Though the stock opened at $1.74, the bulls momentum made the stock top out at $1.86 level for the day. The stock recorded a low of $1.72 and closed the trading day at $1.86, in the green by 9.41%. The total traded volume for the day was 6,545,692. The stock had closed at $1.7 in the previous days trading.

The company shares have dropped -29.75% from its 1 Year high price. On Jun 30, 2015, the shares registered one year high at $2.54 and the one year low was seen on Jan 21, 2016. The 50-Day Moving Average price is $1.74 and the 200 Day Moving Average price is recorded at $1.45.

Gerdau S.A. (Gerdau) is a producer of long rolled steel. The Company operates in five segments: Brazil (Brazil Business Operation), which includes the steel operations in Brazil (except special steel) and the metallurgical and coking coal operation in Colombia; North America (North America Business Operation), which includes all North American operations, except Mexico and special steel; Latin America (Latin America Business Operation), which includes all Latin American operations, except the operations in Brazil and the metallurgical and coking coal operations in Colombia; Special Steel (Special Steel Business Operation), which includes the special steel operations in Brazil, Spain, the United States and India, and Iron Ore (Iron Ore Business Operation), which includes the iron ore operations in Brazil. The Companys mills are located in Argentina, Brazil, Canada, Chile, Colombia, Spain, the United States, Guatemala, India, Mexico, Peru, the Dominican Republic, Uruguay and Venezuela.

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