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Fly News Breaks for February 6, 2020
MT, SXC
Feb 6, 2020 | 07:38 EDT
As previously reported, Benchmark analyst Mark Levin initiated coverage of SunCoke Energy (SXC) with a Hold rating. He sees too much uncertainty surrounding the economics of two coke contracts that SunCoke is negotiating this year with Arcelor Mittal (MT) to recommend the stock, Levin said. The contracts, set to expire at the end of 2020, account for an estimated one-quarter of the company's total EBITDA and he thinks the stock will have a tough time outperforming until there is more clarity, he added.
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