Goldman Sachs Upgrades AK Steel (AKS) to Neutral

Goldman Sachs upgraded AK Steel (NYSE: AKS) from Sell to Neutral and maintains its $8 price target.

The firm said they do not see more downside from current levels.

"Although the economic benefits of the recently announced investments in the upstream supply chain are a few years out, investors' perception of AKS as a non-integrated and thus disadvantaged steel producer should diminish, removing one of the overhangs on the stock," Goldman's analyst said.

2nd-half earnings views are more realistic and weak flat steel supply/demand is priced in, according to the firm.


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 $7.15 yesterday.

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