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Fly News Breaks for July 27, 2017
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Jul 27, 2017 | 08:20 EDT
JPMorgan analyst Michael Gambardella raised his price target for U.S. Steel to $51 saying the shares continue to be his top pick under coverage. The company maintained its 2017 EBITDA guidance at $1.1B, despite using a lower HRC price of $612/t compared to when it last gave its guidance in April that assumed a HRC price of $644/t, Gambardella tells investors in a research note. He continues to expect U.S. Steel to generate greater earnings as Flat Rolled costs are under control. The analyst reiterates an Overweight rating on the name.
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