Markets
X

Analyst Actions: United States Steel Group Upgraded To Outperform, TP Raised 50% At Credit Suisse; Shares Jump 8%

United States Steel Group ( X ) has been upgraded to Outperform form Neutral by analysts at Credit Suisse. The price targe on the stock was raised 50% to $30 from $20 a share.

"We see a number of compelling industry and company specific datapoints which suggest that 4Q will prove the earnings trough, with an expected steel price recovery pushing the shares higher over the next 3 months," said Credit Suisse. "We raise our 2013 estimate from $1.48 to $1.72 and 2014 from $2.02 to $3."

The firm added that it believed that X's significant exposure to auto demand will result in earnings improvement relative to consensus.

Shares of X are up 7.6% to $25.66 amid a 52-week range of $17.67 - $32.52.

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

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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

In This Story

X

Other Topics

Commodities

Latest Markets Videos