** 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;))