Jefferies Cuts Price Target on AK Steel (AKS)
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Price: $1.55 --0%
Rating Summary:
2 Buy, 19 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 7 | New: 41
Rating Summary:
2 Buy, 19 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 7 | New: 41
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Jefferies lowered estimates and its price target AK Steel (NYSE: AKS) from $14.50 to $8.50 following Q3 results while maintaining a Hold rating.
The lower price target and estimates reflect a lower outlook for U.S. steel consumption, carbon and GOES pricing/metal spreads, and revised cost assumption.
Jefferies continues to view AK Steel "unfavorably" versus peers.
For more ratings news on AK Steel click here and for the rating history of AK Steel click here.
Shares of AK Steel closed at $7.47 yesterday.
The lower price target and estimates reflect a lower outlook for U.S. steel consumption, carbon and GOES pricing/metal spreads, and revised cost assumption.
Jefferies continues to view AK Steel "unfavorably" versus peers.
For more ratings news on AK Steel click here and for the rating history of AK Steel click here.
Shares of AK Steel closed at $7.47 yesterday.
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