Goldman Sachs Lowers Numers on AK Steel (AKS) On Cost Pressures, Keeps Sell Rating
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Price: $1.55 --0%
Rating Summary:
2 Buy, 19 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 19 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Goldman Sachs lowers its price target on Sell-rated AK Steel (NYSE: AKS) from $13.50 to $12, noting that cost pressures accelerate as expected.
The firm cut 3Q/4Q 2011 EPS estimates for AKS to $0.08/$0.03 from $0.30/$0.19 on high iron ore and other raw materials costs. They more than halved FY11 EPS from $1.10 to $0.50.
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 $12.81 yesterday.
The firm cut 3Q/4Q 2011 EPS estimates for AKS to $0.08/$0.03 from $0.30/$0.19 on high iron ore and other raw materials costs. They more than halved FY11 EPS from $1.10 to $0.50.
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 $12.81 yesterday.
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