Jefferies Starts AK Steel (AKS) at Hold
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Price: $3.67 +4.26%
Rating Summary:
5 Buy, 10 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 24 | New: 24
Rating Summary:
5 Buy, 10 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 24 | New: 24
Trade AKS Now!
Jefferies initiates coverage on AK Steel (NYSE: AKS) with a Hold rating and $18 price target.
The firm states, "While valuations look cheap relative to historical earnings, AKS' high cost structure and lack of vertical integration positions it poorly in the expected low utilization, high input cost, and intensifying competitive environment for carbon flat rolled steel. This and less favorable supply/demand dynamics for its specialty steel products make it unlikely it will reach prior peak earnings this cycle."
For more ratings news on AK Steel click here and for the rating history of AK Steel click here.
Shares of AK Steel closed at $16.61 yesterday, with a 52 week range of $11.48-$17.88.
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The firm states, "While valuations look cheap relative to historical earnings, AKS' high cost structure and lack of vertical integration positions it poorly in the expected low utilization, high input cost, and intensifying competitive environment for carbon flat rolled steel. This and less favorable supply/demand dynamics for its specialty steel products make it unlikely it will reach prior peak earnings this cycle."
For more ratings news on AK Steel click here and for the rating history of AK Steel click here.
Shares of AK Steel closed at $16.61 yesterday, with a 52 week range of $11.48-$17.88.
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