UBS Reiterates a 'Buy' on US Steel (X); Adusting Estimates on N-T Headwinds
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Price: $54.84 --0%
Rating Summary:
9 Buy, 17 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
9 Buy, 17 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS reiterates a 'Buy' on US Steel (NYSE: X) price target lowered $1 to $46.
Analyst, Shneur Z. Gershuni, "US Steel confirmed the sizable maint. our channel checks had noted will impact 3Q, in addition to elevated maintenance in 2Q. Interestingly, X noted that ‘12 is a higher maint. year and ‘13 should improve
as X avoided maint. in the 08-09 downturn. Gas substitution should incrementally improve once maint. is complete and X reiterated its goal of reducing 100lbs of coke/ton by the end of ‘12. Tubular has been a concern of some, but X reiterated positive comments about the shift from dry to wet gas plays and highlighted offshore drilling as a positive LT opportunity."
"We lower our full-year 2012 EPS estimate to $3.05 from $3.31, and our 2Q estimate to $0.68 from $0.84. The reductions subsequent to 2Q are a result of higher than expected maintenance costs, though much of the total had been anticipated."
For an analyst ratings summary and ratings history on US Steel click here. For more ratings news on US Steel click here.
Shares of US Steel closed at $27.65 yesterday.
Analyst, Shneur Z. Gershuni, "US Steel confirmed the sizable maint. our channel checks had noted will impact 3Q, in addition to elevated maintenance in 2Q. Interestingly, X noted that ‘12 is a higher maint. year and ‘13 should improve
as X avoided maint. in the 08-09 downturn. Gas substitution should incrementally improve once maint. is complete and X reiterated its goal of reducing 100lbs of coke/ton by the end of ‘12. Tubular has been a concern of some, but X reiterated positive comments about the shift from dry to wet gas plays and highlighted offshore drilling as a positive LT opportunity."
"We lower our full-year 2012 EPS estimate to $3.05 from $3.31, and our 2Q estimate to $0.68 from $0.84. The reductions subsequent to 2Q are a result of higher than expected maintenance costs, though much of the total had been anticipated."
For an analyst ratings summary and ratings history on US Steel click here. For more ratings news on US Steel click here.
Shares of US Steel closed at $27.65 yesterday.
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