Citi Downgrades US Steel (X) to Neutral
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Rating Summary:
8 Buy, 17 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Citi downgraded US Steel (NYSE: X) from Buy to Neutral with a price target of $37.00 (from $21.00).
Analyst Alexander Hacking comments "We are downgrading US Steel to Neutral from Buy. We see risk-reward on X equally balanced at current levels with upside from a recovery in the energy sector but downside if steel prices roll-over. The company will announce 2017 EBITDA guidance based on spot HRC prices when they release 1Q results February 1st. Given current HRC list prices are as high as $640/ton spot guidance could set a high bar for the year and limit further upside in shares from there, especially if steel prices decline in 2H17 as we expect."
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 $34.93 yesterday.
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