Steel & Tube shares hit 9-month high on analyst upgrade

Mon, 15 Aug 2016

By Paul McBeth Aug. 15 (BusinessDesk) - Steel & Tube Holdings shares reached a nine-month high after First NZ Captial analysts raised their rating on the stock following the steel products maker posting better-than-expected annual earnings and lifting its dividend payment. The shares jumped 13 percent to $2.47, the highest level since Nov. 11, after First NZ upgraded its rating on Steel & Tube to 'outperform' from 'neutral' and lifted its target price 10 cents to $2.70. The Lower Hutt-based company last week reported an underlying profit...

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