03:35 PM EDT, 05/01/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We decrease our 12-month target price by $33 to $309, which assumes RS will trade at an EV/EBITDA of 9.5x our 2026 EBITDA estimate, a premium to Reliance's three-year average forward EV/EBITDA of 9.1x. and a premium to peers' average forward EV/EBITDA of 7.8x, which we think is warranted by Reliance's top-tier balance sheet strength and best-in-class gross margins. We lower our 2025 EPS estimate by $1.49 to $16.01 but increase our 2026 EPS forecast by $0.83 to $20.08. RS posted Q1 adj. EPS of $3.77 vs. $5.30, $0.03 above consensus, on a small sales beat of 1.3%. Q1 net sales declined 4.4% Y/Y to $3.48B, primarily due to a 12.2% decrease in average selling price per ton, which was partially mitigated by a 9.0% increase in tons sold. Notably, Reliance achieved record shipments of 1.63 million tons, outperforming industry trends and demonstrating the resilience of its business model. The Q1 gross profit margin contracted by 130 basis points Y/Y to 29.7%, reflecting the challenging pricing environment.