UPDATE: Deutsche Bank Initiates Coverage On Ryerson Holding As Stock Is Poised For Growth

In a report published Wednesday, Deutsche Bank analyst Jorge Beristain initiated coverage on Ryerson Holding Corp (NYSE: RYI) with a Buy rating and $15.00 price target.

In the report, Deutsche Bank noted, “With this report we initiate coverage on Ryerson with a Buy rating and 12-month Price Target of $15/share. Ryerson is one of the largest processors and distributors of metals in North America, with a broad geographic reach, extensive breadth of products and services and a lean operating structure. Over the past few years, the company has undergone a difficult transformation process that positions itself to leverage on the anticipated recovery in the broader industrial market in the US. Ryerson's strong forecasted free cash flow generation should drive down net debt and help pursue organic/inorganic growth opportunities in a highly fragmented industry.”

Ryerson Holding closed on Tuesday at $11.87.