The BlueScope Steel Limited (ASX: BSL) share price has continued its strong run and climbed higher during trade today.
In fact, at one stage the steel manufacturer's shares even reached a new all-time high of $13.59.
Why have they jumped?
The main catalyst for BlueScope's 43% gain year-to-date was a strong half-year result in February.
On the top line the company reported a 17% increase in half-year sales to $5.2 billion.
But it was the bottom line performance which got the market excited. BlueScope posted a 79% jump in half-year profit to $359 million.
According to management the strong growth was generated through the delivery of productivity and cost improvements.
Although its shares are higher today, one broker appears to believe its shares have peaked now. A research note out of Deutsche Bank last week rated BlueScope as a hold with an $11.50 price target.
While Deutsche may not like BlueScope, it certainly likes one of these shares.
