10:46 AM EDT, 03/24/2025 (MT Newswires) -- Steel Dynamics ( STLD ) presents a "good entry point" following a sell off in the broader market and given recent trade protections that buoyed hot rolled coil or HRC prices, UBS Securities said in a Monday note.

UBS said tariff protection for US steel and aluminum has exceeded its expectations, potentially outweighing any demand downside that could also be partially offset by reshoring efforts.

"We believe the steel stocks should benefit from tighter import restrictions more than they lose on weak demand," UBS said.

The investment firm also highlighted Steel Dynamics' ( STLD ) near-term earnings momentum, medium-term organic growth, and strong free cash flow profile.

UBS upgraded Steel Dynamics ( STLD ) to buy from neutral, with a price target of $149.

Price: 127.19, Change: +4.52, Percent Change: +3.68