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Fly News Breaks for May 12, 2015
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May 12, 2015 | 08:08 EDT
Morgan Stanley said now is the time to buy U.S. Steel ahead of improving steel prices and industry utilization. The firm said flat-rolled steel prices are bottoming, industry capacity utilization is rising, imports falling, and service center destocking is ending. Morgan Stanley said the company will benefit from higher 2H utilization, which will be a positive on operating leverage. The firm rates shares an Overweight with a $35 price target.
News For X From the Last 2 Days
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Apr 23, 2024 | 09:36 EDT
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Apr 23, 2024 | 08:47 EDT
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Apr 23, 2024 | 08:43 EDT
Says will continue to buy back stock "hand over fist." Says Cleveland-Cliffs (CLF) "the only U.S. solution" for U.S. Steel (X). Says will have to "re-assess value" of U.S. Steel. Says targeting net debt to EBITDA of 2.5x. Says balance sheet in "great shape, near record liquidity." Sees CapEx ~$1B/year from 2025-2028. Comments taken from Q1 earnings conference call.
