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Fly News Breaks for September 22, 2017
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Sep 22, 2017 | 06:18 EDT
Cowen analyst Novid Rassouli downgraded U.S. Steel to Underperform and cut its price target to $20 from $24 based on expectations iron ore and U.S. HRC prices are heading lower. The analyst sees downside risk to U.S. Steel shares and earnings risk, especially in the U.S. Flat-rolled segment, given expectations for both iron ore and finished steel prices to move lower.