AK Steel (AKS) PT, Estimates Raised at Jefferies

October 26, 2016 8:16 AM EDT
Get Alerts AKS Hot Sheet
Price: $9.31 -2.21%

Rating Summary:
    8 Buy, 12 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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Jefferies analyst Seth Rosenfeld raised his price target on Hold-rated AK Steel (NYSE: AKS) to $5.50 (from $4.50) following results.

Rosenfeld commented, "AKS took necessary steps in recent years to reduce exposure to steel market volatility by stepping out of the spot market, growing premium-grade products and shutting down its highest cost assets. Stronger than expected Q3 results provide additional confidence AKS is moving in the right direction, and with spot prices likely at a trough, risk/reward has improved."

The firm raised FY 2016 EPS from $0.14 to $0.22 and FY 2017 EPS from $0.36 to $0.51.

For an analyst ratings summary and ratings history on AK Steel click here. For more ratings news on AK Steel click here.

Shares of AK Steel closed at $5.27 yesterday.

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