BofA/Merrill analyst Timna Tanners upgraded U.S. Steel to Buy and raised its price target to $31 from $29 following a 5% increase for HRC in the second half and full year 2017. The analyst said the U.S. premium to Chinese prices has fallen to just about $75/ton, half the leves he considers "normal" and expects HRC can "surge toward $700/ton by year end. Tanners raised U.S. Steel's 2018 EBITDA forecast to $1.37B from $1.2B following a $30/ton increase for 2018 HRC but said he remains concerned about the company's earnings volatility in recent quarters and earnings challenges.