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Fly News Breaks for February 13, 2017
AKS
Feb 13, 2017 | 08:48 EDT
As previously reported, Morgan Stanley analyst Evan Kurtz downgraded AK Steel to Equal Weight from Overweight and $11 price target. The analyst is concerned about AK's exposure to electrical steel and heavy auto steel, which could prove to be headwinds this year. Kurtz said AKS is being negatively impacted from oversupply and the decline in electrical steel prices and falling shipments for auto's due to OEM inventory adjustments and reduced steel content on two heavy-duty truck platfroms.
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