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Fly News Breaks for December 5, 2019
JFEEF
Dec 5, 2019 | 08:05 EDT
Jefferies analyst Thanh Ha Pham double upgraded JFE Holdings to Buy from Underperform with a price target of 1,700 yen, up from 1,100 yen. The share price has fallen 21.5% since January 1 due to weakening steel spreads, but capital expenditures are peaking, weak auto demand is bottoming, and a boost in Chinese steel prices will be a tailwind, the analyst said.
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