Steel Dynamics Raises Target to $185, Expects Strong Q4 Amid Aluminum Losses

Steel Dynamics (STLD) gained as Bank of America raised its price target to $185 from $155 while maintaining a Buy rating. The firm noted it is updating its price forecasts for North American metals and mining stocks under coverage. Steel Dynamics delivered a strong third-quarter 2025 performance, setting a record with 3.6 million tons of steel shipments and reporting revenues of $4.8 billion. Adjusted EBITDA came in at $664 million, supported by robust operating cash flow of $723 million.