U.S. Steel’s Target, Estimates Boosted at Morgan Stanley (X)

Share |

Steel maker United States Steel Corporation ( X ) 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 Friday.

The Bottom Line
Shares of U.S. Steel ( X ) 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 ( X ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Created by Dividend.com

This article appears in: Investing , Stocks

Referenced Stocks: X

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by BankRate.com