UPDATE: UBS Downgrades AK Steel (AKS) to Sell; Risk is Piling Up

(Updated - August 28, 2012 9:47 AM EDT)

UBS downgraded AK Steel (NYSE: AKS) from Neutral to Sell. PT cut from $5.50 to $4.00.

Analyst, Shneur Z. Gershuni, said, "We downgrade AKS to Sell as we believe most price support for carbon sheet has passed and the probable resolution of the MT labor situation, and low cost imports, likely bring pricing pressure. Longer-term issues remain and we view AKS as having the most downside risk in an environment with weaker pricing. Furthermore, our ongoing concern with liquidity remains an issue as well."

For an analyst ratings summary and ratings history on AK Steel click here. For more ratings news on AK Steel click here.

Shares of AK Steel closed at $5.65 yesterday.

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