From Nasdaq:

– The basic materials sector may present opportunities in the stock market. Steel producers are now attractive for investments due to recovering industries, easing inflation, and increased demand.

– U.S. Steel’s acquisition by Nippon Steel for $14 billion boosts fiscal 2023 earnings estimates and shows potential for future growth, offering a reasonable 15.9X forward earnings multiple. The deal is expected to close in the second quarter of 2024.

– Steel Dynamics and Universal Stainless & Alloy Products are displaying sound growth. Steel Dynamics has seen considerable expansion, with EPS estimates on an upward trend despite historic earnings. Universal Stainless & Alloy is expected to experience substantial growth in FY24.

– Universal Stainless & Alloy is reaching new heights in post-pandemic growth and recovery, with positive growth expectations for FY23 and FY24. Both companies are expected to outperform the broader market, garnering spots on Zacks Rank #1 (Strong Buy) list.

– Zacks Research’s Top 10 stocks for 2024 includes promising picks curated by Sheraz Mian. They gained almost triple the S&P 500’s 340% gain since their inception in 2012. Steel Dynamics, Inc. (STLD), United States Steel Corporation (X), and Universal Stainless & Alloy Products, Inc. (USAP) also have in-depth investment analysis reports to help gather information.



Read more: Time to Buy Stock in These Steel Producers