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Fly News Breaks for April 8, 2016
AKS
Apr 8, 2016 | 06:04 EDT
UBS analyst Matt Murphy downgraded AK Steel to Sell citing the recent appreciation of the shares and concerns over balance sheet deterioration. The analyst believes AK Steel's average sales price will be down in 2016 and points to its "relatively high cost base and a track record of sustained ongoing cash burn." Murphy raised his price target for the shares to $2.50 from $2.
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