Morgan Stanley Moving Stocks in Steel Sector: Upgrades X, AKS, TX, GGB, Downgrades NUE
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Following several upgrades and a downgrade, two Morgan Stanley analysts are moving stocks in the Iron & Steel sector today.
- U.S. Steel (NYSE: X) - upgraded from Equal Weight to Overweight. The analyst also set a $45 price target on the stock, suggesting potential price appreciation of more than 20% from current levels. Shares are up 5.2% to $36.87.
- AK Steel (NYSE: AKS) - upgraded from the dreaded Underweight to Equal Weight. Shares are currently up 6.7% to $18.57.
- Ternium S.A. (NYSE: TX) - upgraded from Underweight to Equal Weight, also lifting its price target by nearly 200% from $7 to $20. Shares of Ternium are up 5.4% to $17.68, representing a possible jump of 13% from today's price.
- Gerdau S.A. (NYSE: GGB) - upgraded from Underweight to Equal Weight. Despite the upgrade, shares are down 2% to $10.99.
- Nucor (NYSE: NUE) - downgraded from Overweight to Equal Weight. Also, the analyst removed his $45 price target from the stock. Shares are currently down 0.5% to $46.60.
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