** Shares of U.S. steel manufacturer Steel Dynamics STLD.O rise 1.3% to about $275 in premarket trading

** Jefferies raises price target on Steel Dynamics to $310 from $265; maintains "buy" rating

** New PT represents 14.2% upside to stock's last close

** Brokerage says STLD shares have risen more than 60% YTD and have meaningfully outperformed most U.S. steel-producing peers

** Says it quantifies STLD's potential aluminum earnings upside as co is also positioned to deliver rising aluminum volumes into a record domestic U.S. pricing environment

** As of last close, shares up 60.2% YTD