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Fly News Breaks for April 8, 2016
AKS, X
Apr 8, 2016 | 06:07 EDT
UBS analyst Matt Murphy downgraded U.S. Steel (X) to Sell saying the company is unlikely to generate sustainable free cash flow under current steel prices. The analyst believes U.S. Steel will be in a long-term cash burn position once cost cutting and working capital reductions cease. Murphy raised his price target for the shares to $12 from $8. The analyst this morning also downgraded AK Steel (AKS) to Sell.
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