Gerdau Steel Firmly a Hold – Analyst Blog
Posted on Friday, January 23rd, 2009 | In Stocks to WatchGerdau S.A. (GGB) is a leading steel producer in Brazil with operations in South America, North America and Europe. The company is also the largest producer of long steel in the Americas.
We are reiterating out Hold recommendation on Gerdau. The company has been posting good results, and the third quarter 2008 results were excellent. However, the recent decline in steel prices and the international economic slowdown creates a more challenging business environment for the steel industry.
The stock’s valuation seems attractive, even considering lower earnings for 2009. Nevertheless, huge exposure to the U.S. market during a recession is a major concern.
Read the full analyst report on GGB.
“GGB” Free Stock Analysis: Buy? Sell? Hold?
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