** Shares of metal recycler Sims SGM.AX fall as much as 4.6% to A$12.930, logs biggest intraday percentage decline since Nov. 13
** Stock is the fifth biggest percentage loser in the benchmark ASX 200 index .AXJO
** Jefferies expects SGM's earnings will continue to be weighed down by challenging global scrap markets, despite recent margin improvements
** Brokerage says SGM's broader strategy of turning around the North American business remains unclear in a more competitive U.S. market
** Raises price target to A$11.40 from A$10.70, maintains "underperform" rating
** New PT represents a discount of ~16% as of stock's last close
** 1 of 12 analysts rate the stock "buy", 8 as "hold" and 3 "sell" or lower; their median PT is A$13.50 – LSEG data
** Stock last year fell ~24% vs AXJO's 7.5% gains
(Reporting by Kumar Tanishk in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com;))
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