Deutsche Bank downgrades Mechel (MTL) to Hold
- Wall St. falls as data adds to growth worries; biotechs down
- UPDATE: Tesla (TSLA) Tops Q1 EPS by 3c; Plans Q2 Production of ~20,000 Vehicles
- Fitbit (FIT) Tops Q1 EPS by 7c; Issues Mixed Outlook
- TripAdvisor (TRIP) Misses Q1 EPS by 14c
- After-Hours Stock Movers 05/04: (EPE) (ZNGA) (WTW) Higher; (FRSH) (RRTS) (FIT) Lower (more...)
Deutsche Bank downgrades Mechel (NYSE: MTL) from Buy to Hold with a $40 price target. The firm said, "Mechel has been the strongest performer in the Russian steel universe since the beginning of the year: its shares have risen 44% while the RTS index has declined 3% over the same period. However, with Mechel's share price approaching our 12-month target price of $40.0/ADS, we see further upside as limited. At current price levels, there is only 9% potential upside left and we are therefore downgrading Mechel to HOLD."
You May Also Be Interested In
- Mullen Group Ltd. Announces Election of Directors and Independent Lead Director
- UPDATE: Brean Capital Downgrades Under Armour, Inc. (UA) to Hold
- RBC Capital Downgrades TransAlta (TAC) to Underperform
Create E-mail Alert Related CategoriesDowngrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!