2346 GMT - Sims's earnings are likely to remain weighed down by challenging scrap-metal markets globally, even though margins have improved recently, contends Jefferies. Analyst Ramoun Lazar also says Sims's strategy to turn around its North America business is still unclear at a time when the U.S. market has become more competitive. Sims is due to report 1H earnings next month, and Jefferies thinks that's an opportunity for management to update the medium-term strategy. "However, with shares factoring in significant earnings improvement we see downside from current levels," says Jefferies, retaining an underperform call on the stock. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
January 29, 2025 18:46 ET (23:46 GMT)
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