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

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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.

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