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CISXF

China Steel Corp.

, ANGGY

Angang Steel Co.

09:11
11/30/16
11/30
09:11
11/30/16
09:11

Steel, iron-ore prices plunged in China, WSJ reports

Steel and iron-ore prices in China plunged on Wednesday after exchanges in the country lowered the daily trading limit and raised margin requirements, according to The Wall Street Journal. The selloff by Chinese investors also hit base metals trading on the London Metal Exchange, the publication said. Companies levered to U.S. steel prices include AK Steel (AKS), Nucor (NUE), Steel Dynamics (STLD), U.S. Steel (X) and Cliffs Natural (CLF).Reference Link

CISXF

China Steel Corp.

ANGGY

Angang Steel Co.

AKS

AK Steel

NUE

Nucor

STLD

Steel Dynamics

$35.23

-0.25 (-0.70%)

X

U.S. Steel

CLF

Cleveland-Cliffs

CISXF China Steel Corp.

ANGGY Angang Steel Co.

AKS AK Steel

11/29/16
MACQ
11/29/16
DOWNGRADE
Target $9
MACQ
Neutral
AK Steel downgraded to Neutral from Outperform at Macquarie
Macquarie analyst Aldo Mazzaferro downgraded AK Steel to Neutral and raised its price target to $9 from $6.80 saying valuation more than discounts what he is expecting for earnings.
11/14/16
11/14/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Lockheed Martin (LMT) upgraded to Buy from Hold at Stifel with analyst Joseph DeNardi saying he is pleased with the company's comments regarding its 2018 free cash flow outlook, and he thinks that it could benefit from increased defense spending in the wake of the election results. 2. Philip Morris (PM) upgraded to Buy from Outperform at CLSA with analyst Michael Levy citing the recent pullback for his rating change and said he sees the company adding to its buyback. 3. Citi (C) upgraded to Overweight from Equal Weight at Morgan Stanley with analysts led by Betsy Graseck saying the Republican sweep is positive for all financial stocks due to increased growth, higher rates, lower taxes, and less regulation. 4. U.S. Steel (X) and AK Steel (AKS) upgraded to Overweight from Equal Weight at Morgan Stanley. 5. L Brands (LB), Kohl's (KSS), and Chico's(CHS) were upgraded to Buy from Neutral at Citi, while Chico's was also upgraded to Outperform from Peer Perform at Wolfe Research. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/14/16
MSCO
11/14/16
UPGRADE
Target $11
MSCO
Overweight
AK Steel upgraded on upside to infrastructure cycle at Morgan Stanley
Morgan Stanley analyst Evan Kurtz upgraded AK Steel to Overweight from Equal Weight and raised its price target to $11 from $5. The analyst believes the Trump victory has led to the first "credible long-term investment case" for steel equities for the first time in a decade and expects Trump's proposals for infrastructure spending and trade protection to add to demand and curb import supply. Kurtz expects AK Steel to benefit from increased flat-rolled steel demand, ongoing cost savings, and leverage to an infrastructure upcycle.
11/30/16
JPMS
11/30/16
NO CHANGE
JPMS
Overweight
JPMorgan raises targets for steel stocks on expected higher U.S. steel prices
JPMorgan analyst Michael Gambardella noted that ArcelorMittal (MT) raised its hot-rolled sheet pricing by $40 per ton, to $600 per ton, last night and he continues to think that supply cuts in the U.S. from both capacity curtailments and lower imports should support higher U.S. steel prices. The Trump administration's impact on trade could be "much quicker and more meaningful" than its infrastructure plans, said Gambardella, who raised his price targets on several stocks in the U.S. steel industry. He increased his target on AK Steel (AKS) to $11 from $8.50, on Nucor (NUE) to $70 from $59, on Steel Dynamics (STLD) to $41 from $31, on U.S. Steel (X) to $37 from $29 and on Cliffs Natural (CLF) to $10 from $7, while keeping Overweight ratings on all five stocks.
NUE Nucor

11/14/16
BREN
11/14/16
DOWNGRADE
Target $61
BREN
Hold
Nucor downgraded to Hold from Buy at Berenberg
Berenberg analyst Alessandro Abate downgraded Nucor to Hold with an increased price target of $61.
11/09/16
11/09/16
UPGRADE
Target $57

Buy
Nucor upgraded to Buy following Trump victory at BofA/Merrill
As previously reported, BofA/Merrill upgraded Nucor to Buy from Neutral and raised its price target to $57 from $50. The firm's conviction for stronger 2017 steel prices has been growing and the Trump victory has increased its positive view on U.S. steel stocks.
11/29/16
MACQ
11/29/16
DOWNGRADE
Target $53
MACQ
Underperform
Nucor downgraded to Underperform from Neutral at Macquarie
Macquarie analyst Aldo Mazzaferro downgraded Nucor to Underperform and raised its price target to $53 from $50 due to valuation.
STLD Steel Dynamics
$35.23

-0.25 (-0.70%)

11/14/16
RSBL
11/14/16
DOWNGRADE
RSBL
Neutral
Steel Dynamics downgraded to Neutral from Buy at Rosenblatt
Rosenblatt analyst Chris Olin downgraded Steel Dynamics to Neutral saying shares have surpassed his $32 price target and valuation reflects near-term strength and early 2017 upside.
11/29/16
MACQ
11/29/16
DOWNGRADE
Target $35
MACQ
Neutral
Steel Dynamics downgraded to Neutral from Outperform at Macquarie
Macquarie analyst Aldo Mazzaferro downgraded Steel Dynamics to Neutral and raised its price target to $35 from $33 due to valuation.
11/14/16
BREN
11/14/16
DOWNGRADE
Target $36.5
BREN
Hold
Steel Dynamics downgraded to Hold from Buy at Berenberg
Berenberg analyst Alessandro Abate downgraded Steel Dynamics to Hold with an increased price target of $36.50.
X U.S. Steel

11/29/16
11/29/16
DOWNGRADE

On The Fly: Top five analyst downgrades
On The Fly: Top five analyst downgrades: 1. Wendy's (WEN) downgraded to Neutral from Buy at Goldman with analyst Karen Holthouse citing valuation with the stock up 23% over the past month. 2. SAIC (SAIC) downgraded to Neutral from Buy at Citi with analyst Jonathan Raviv citing the recent rally in the shares and some overhang from the pending contract transition. 3. BioMarin (BMRN), Johnson & Johnson (JNJ), and Vertex (VRTX) were downgraded to Equal Weight from Overweight at Barclays. 4. Nivalis Therapeutics (NVLS) downgraded to Market Perform Raymond James, to Hold from Buy at Stifel, to Market Perform from Outperform at Cowen, and to Neutral from Outperform at Baird. 5. U.S. Steel (X) downgraded to Hold from Buy at Argus. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/21/16
11/21/16
DOWNGRADE

Neutral
Follow-up: U.S. Steel downgraded on valuation, slowing auto growth at Rosenblatt
As previously reported, Rosenblatt downgraded U.S. Steel to Neutral from Buy. Analyst Chris Olin said shares appear fairly valued given recent share strength and reduced demand visibility and decelerating automotive growth.
11/29/16
ARGS
11/29/16
DOWNGRADE
ARGS
Hold
U.S. Steel downgraded to Hold from Buy at Argus
CLF Cleveland-Cliffs

11/14/16
MSCO
11/14/16
UPGRADE
Target $9
MSCO
Equal Weight
Cliffs Natural upgraded to Equal Weight from Underweight at Morgan Stanley
Morgan Stanley analyst Evan Kurtz upgraded Cliffs Natural to Equal Weight and raised its price target to $9 from $3. The analyst believes the Trump victory has led to the first "credible long-term investment case" for steel equities for the first time in a decade and expects Trump's proposals for infrastructure spending and trade protection to add to demand and curb import supply. Kurtz said Cliffs is leveraged to HRC steel prices ad will benefit from higher blast furnace operating rates.
10/07/16
FBCO
10/07/16
INITIATION
Target $2
FBCO
Underperform
Cliffs Natural reinstated with an Underperform at Credit Suisse
Credit Suisse analyst Curt Woodworth reinstated Cliffs Natural with an Underperform and a $2 price target primarily due to a bearish view on iron ore.
07/18/16
CLKS
07/18/16
UPGRADE
CLKS
Neutral
Cliffs Natural upgraded to Neutral from Sell at Clarksons Platou

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SAFM

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Western Digital

$86.37

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, TOSYY

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NOA

North American Energy

$4.10

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ISTR

Investar Holding

$23.15

0.15 (0.65%)

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BECN

Beacon Roofing

$47.86

-0.63 (-1.30%)

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AMD

AMD

$13.74

0.62 (4.73%)

, AMPH

Amphastar

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MLHR

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JUNO

Juno Therapeutics

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AET

Aetna

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APRN

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DPS

Dr Pepper Snapple

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HBI

Hanesbrands

$24.64

-0.07 (-0.28%)

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Downgrade
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TPRE

Third Point Reinsurance

$14.40

-0.1 (-0.69%)

, SAFM

Sanderson Farms

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1.5 (0.93%)

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SAFM

Sanderson Farms

$162.06

1.5 (0.93%)

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IPCI

Intellipharmaceutics

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RWLK

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ABM

ABM

$39.29

0.23 (0.59%)

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IVTY

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USG

USG

$31.26

1.84 (6.25%)

, CBPX

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TRHC

Tabula Rasa HealthCare

$25.66

-0.38 (-1.46%)

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