TMS International (TMS) has been initiated today with coverage from the research analysts at KeyBanc Capital Markets and RBC Capital Markets. KeyBanc rates TMS as “buy” and placed a price target of $17 dollars on TMS while RBC Capital rates the company as “outperform” and gave TMS a slightly less optimistic price target of $16 dollars.
TMS shares fell during today’s trading session despite these positive coverage initiations at KeyBanc and RBC Capital. 2011 so far has been good to TMS as the company has seen more upside than downside of its share valuation.
TMS International through its subsidiaries is a provider of outsourced industrial services to steel mills in North America and has a substantial and growing international presence. The company provides services at more than 70 customer sites in nine countries and operates a global raw materials procurement network. The company has market capitalization of $184,000,000 and 12,880,000 shares outstanding. TMS has a 52-week high of $14.50 with the low being $11.85.
