JPMorgan Double Downgrades AK Steel (AKS) to Underweight

September 23, 2019 4:37 AM EDT
Get Alerts AKS Hot Sheet
Price: $1.55 --0%

Rating Summary:
    2 Buy, 20 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 17 | Down: 13 | New: 41
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JPMorgan analyst Michael Gambardella downgraded AK Steel (NYSE: AKS) from Overweight to Underweight.

  • Expects earnings to be pressured due to lower steel spot pricing and lower pricing on annual contracts.
  • Says strike at General Motors may weight on AKS earnings dependent on length of strike.
  • Double downgrades on valuation on headwinds to earnings in 2020.

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 $2.43 yesterday.

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