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Fly News Breaks for November 24, 2015
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Nov 24, 2015 | 07:48 EDT
BofA/Merrill's 2016 EBITDA forecasts are well below consensus in the face of lower annual contract pricing of 25-33% and continued weak sheet prices. The firm continues to have concerns with U.S. Steel's liquidity into 2017 and does not see pricing that will enable the company to return to profitability. BofA/Merrill lowered U.S. Steel's price target to $3 from $7 and maintains its Underperform rating on shares.
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