US Steel (X) PT Lowered to $41 at Jefferies

Jefferies analyst Christopher LaFemina lowered the price target on US Steel (NYSE: X) to $41.00 (from $47.00) while maintaining a Buy rating.

The analyst commented: "According to the Washington Post and other media reports, the White House plans to block Nippon Steel's proposed acquisition of US Steel on national security grounds. While this outcome would be in-line with our base case, we see deep value in X's shares as a standalone after today's aggressive sell off. We quantify the underlying value of US Steel in this note. We reiterate our Buy rating on X but lower our target to $41/sh."

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