Standpoint Research Starts US Steel (X) at Buy; Pulling the Trigger on a Volatile Name
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Price: $54.84 --0%
Rating Summary:
9 Buy, 17 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
9 Buy, 17 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Standpoint Research initiates coverage on US Steel (NYSE: X) with a Buy. PT $34.00.
Analyst, Ronnie Moas, said, "This is a volatile and risky name with significant remaining risk and uncertainty. That being said, this name appears to be washed out at 90% off the all-time high...below book value...< 4X cash flow...< 6X EV/EBITDA...0.15X sales...down 80% since 2008...17% below the 200-day moving average and 7X estimates for next year."
X is dealing with declining steel prices...heavy pension liabilities and debt...European recession...funding gap...and most concerning...using a forward looking aggressive figure of 7.75% in its 10-K it expects as an annual return on $8 bln in pension assets...These issues and concerns can be offset in an economic recovery coupled with increasing demand and pricing that the market may be forecasting with the S&P at a multi-year high."
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 $20.70 yesterday.
Analyst, Ronnie Moas, said, "This is a volatile and risky name with significant remaining risk and uncertainty. That being said, this name appears to be washed out at 90% off the all-time high...below book value...< 4X cash flow...< 6X EV/EBITDA...0.15X sales...down 80% since 2008...17% below the 200-day moving average and 7X estimates for next year."
X is dealing with declining steel prices...heavy pension liabilities and debt...European recession...funding gap...and most concerning...using a forward looking aggressive figure of 7.75% in its 10-K it expects as an annual return on $8 bln in pension assets...These issues and concerns can be offset in an economic recovery coupled with increasing demand and pricing that the market may be forecasting with the S&P at a multi-year high."
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 $20.70 yesterday.
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