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Fly News Breaks for April 18, 2018
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Apr 18, 2018 | 05:51 EDT
UBS analyst Andreas Bokkenheuser last night initiated U.S. Steel with a Sell rating and $30 price target. The analyst is cautious on the U.S. Steel sector as he believes demand is in structural decline, falling 1% per year over the past 20 years. The recent price rally was supply, not demand driven, Bokkenheuser tells investors in a research note. He believes that leading indicators now point to a mid-year price and volume reversal.
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