Scotiabank Lowers PT on Gerdau S.A. (GGB) to R$20 From R$31, Keeps a Sector Perform Rating

Gerdau S.A. (NYSE:GGB) is one of the best affordable stocks under $5 to invest inOn July 17, Scotiabank lowered the firm’s price target on Gerdau S.A. (NYSE:GGB) to R$20 from R$31, keeping a Sector Perform rating on the shares.

Is Gerdau S.A. (GGB) the Best Steel Stock to Buy According to Billionaires?

A steel worker in high-visibility gear standing in front of a vast array of steel products.

The firm told investors in a research note that the outlook for global steel demand has dwindled with rising trade tensions and uncertainty prompted by constantly changing tariff announcements.

While the overall outlook for the industry remains challenging, Scotiabank noted that it sees a more promising outlook in the US compared to the steel markets in Latin America.

Gerdau S.A. (NYSE:GGB) produces and commercializes steel products. The company’s operations are divided into the following segments: Brazil Operation, North America Operation, South Africa Operation, and Special Steels Operation.

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Disclosure: None. This article is originally published at Insider Monkey.