Steel maker United States Steel Corporation (
) on Friday saw its price target and earnings estimates raised by
analysts at Morgan Stanley.
The firm maintained its "Overweight" rating on X and boosted its
price target to $70. That new target implies a massive 33% upside
to the stock's Thursday closing price of $52.75.
Morgan Stanley also raised its earnings estimates for the
company, noting it is well-leveraged for higher oil prices.
U.S. Steel shares rose 41 cents, or +0.8%, in premarket trading
The Bottom Line
Shares of U.S. Steel (
) have a .38% dividend yield, based on last night's closing stock
price of $52.75. The stock has technical support in the $45-$50
price area. If the shares can firm up, we see overhead resistance
around the $55-$57 price levels.
United States Steel Corporation (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.3 out of 5 stars.
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, as well as a detailed explanation of
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