5 Best Recycling Stocks To Buy Now

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In this article, we shall discuss the 5 best recycling stocks to buy now. To read our detailed analysis of the global waste recycling services industry in 2023, go directly and see 12 Best Recycling Stocks To Buy Now.

5. Commercial Metals Company (NYSE:CMC)

Hedge Fund Holdings: 30

Based in Irving, Texas, Commercial Metals Company (NYSE:CMC) is an American producer of rebar and other related products, primarily geared towards the construction industry. The company also focuses on the purchase and recycling of scrap metal- mostly steel. Commercial Metals Company (NYSE:CMC) has largely managed to maintain investor interest around its stock, with 30 funds long the stock in both Q2 and Q3 of 2023. On November 18, BofA Securities lowered the price target on Commercial Metals Company (NYSE:CMC) to $55 from $60, and maintained a Buy rating on the shares. According to the analyst, although falling prices and skyrocketing inflation pose near-term challenges for the company, infrastructure projects are expected to pick up pace in 2023 and should drive more than 15% incremental demand for long steel over the next couple of years. Hence, despite average price risk, the stock makes for an attractive investment opportunity in the near-term. Furthermore, sales and earnings for the stock have been drastically improving, with recent bolt-on acquisitions adding to its capabilities and potential.

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