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Fly News Breaks for March 13, 2018
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Mar 13, 2018 | 08:07 EDT
Vertical Group analyst Gordon Johnson II downgraded U.S. Steel to Sell from Hold as he believes the upside to U.S. HRC prices and steel stocks is largely behind after Trump's tariff decision on March 8. The analyst, who thinks investors are shifting focus to how much of the desired benefits from the 232 ruling could actually pass through to company earnings, also believes the realized upside to earnings could underwhelm. He cut his price target on U.S. Steel shares to $23 from $41.
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