11:39 AM EDT, 04/09/2024 (MT Newswires) -- National Bank on Tuesday highlighted key takeaways from meeting with Russel Metals ( RUSMF ) top management.

Following the meetings, the bank noted that the company is a "well-managed company," which has a double-digit accretive acquisition pending and is operating within a still-healthy industry backdrop.

Also, the bank believes the company is looking to create shareholder value over the long term, with a strong balance sheet, a cleaner + less cyclical business model than its history, and an updated capital allocation framework.

National Bank has an outperform rating with a price target of C$48.

The company's shares were last seen down C$0.61 to C$42.80 on the Toronto Stock Exchange.

Price: 42.76, Change: -0.65, Percent Change: -1.50