Deutsche Bank Cuts Price Targets On N.A. Steel Stocks, But Sees a Bottom (MT, X, NUE)

May 28, 2010 7:08 AM EDT
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Price: $33.20 -1.45%

Rating Summary:
    17 Buy, 10 Hold, 3 Sell

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    Up: 13 | Down: 25 | New: 41
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Deutsche Bank lowered price targets on a number of North American steel stocks, but was positive saying they are preparing for a bottom.

The firm said, "We now see a much more attractive risk-reward for investing in the sector and we expect investors to revisit again the early cycle benefits of owning steel stocks."

  • Arcelor Mittal (NYSE: MT) price target cut from $63 to $44, maintain Buy
  • United States Steel Corp. (NYSE: X) price target cut from $85 to $65, maintain Buy
  • Nucor Corporation (NYSE: NUE) price target cut from $53 to $50, maintain Buy
  • AK Steel Holding Corporation (NYSE: AKS) price target cut from $22 to $17, maintain Hold
  • Gerdau Ameristeel Corp. (NYSE: GNA) price target maintained at $8, maintain Hold

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