Shares of Commercial Metals (CMC) - Get Report were higher by 4.42% to $18.68 on Tuesday afternoon, following a rating upgrade to "outperform" from "neutral" at Credit Suisse.

The firm sees a rebound in global rebar markets driven by capacity rationalization in China, accelerating global demand, and lower export volumes from China.

Credit Suisse has a $24 price target on Commercial Metals, up from its previous price target of $19.

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