Dahlman Rose Maintains a 'Buy' on US Steel (X); Prices Increases A Positive Development for Sector
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Price: $18.93 +3.33%
Rating Summary:
7 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 19 | Down: 35 | New: 12
Rating Summary:
7 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 19 | Down: 35 | New: 12
Trade X Now!
Dahlman Rose maintains a 'Buy' on US Steel (NYSE: X) price target of $40.00.
Analyst, Anthony B. Rizzuto, said, "US Steel, in a letter distributed to its sales managers and customers, has announced a price increase of a minimum of $40/st on flat rolled products. The move matches increases recently announced by Severstal and NLMK USA. We believe that it is now more likely that the other domestic mills Nucor (NYSE: NUE)(Buy, $54 PT), Steel Dynamics (Nasdaq: STLD)(Buy, $21PT), and ArcelorMittal (NYSE: MT)(Buy, $34 PT) will match the announced increases."
Rizzuto thinks the move to match will bring buyers to market pushing out lead times, which will solidify acceptance of increases.
For an analyst ratings summary and ratings history on US Steel click here. For more ratings news on US Steel click here.
Shares of US Steel closed at $21.64 yesterday, with a 52 week range of $17.67-$47.33.
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Analyst, Anthony B. Rizzuto, said, "US Steel, in a letter distributed to its sales managers and customers, has announced a price increase of a minimum of $40/st on flat rolled products. The move matches increases recently announced by Severstal and NLMK USA. We believe that it is now more likely that the other domestic mills Nucor (NYSE: NUE)(Buy, $54 PT), Steel Dynamics (Nasdaq: STLD)(Buy, $21PT), and ArcelorMittal (NYSE: MT)(Buy, $34 PT) will match the announced increases."
Rizzuto thinks the move to match will bring buyers to market pushing out lead times, which will solidify acceptance of increases.
For an analyst ratings summary and ratings history on US Steel click here. For more ratings news on US Steel click here.
Shares of US Steel closed at $21.64 yesterday, with a 52 week range of $17.67-$47.33.
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