Longbow analyst Chris Olin lowered his 2019 and 2020 EBITDA forecasts for U.S. Steel (X) to reflect the falling price of crude oil, its possible effects on North American drilling over the next few months, and tubing channel sentiment. However, commenting on General Motors' (GM) plans to close or not to allocate product to 7 plants globally, Olin said he believes the news is fully reflected in the current light vehicle production outlook and he still assumes flat automotive-related steel shipments for the U.S. producers in 2019. Given his reduced estimates, Olin lowered his price target on U.S. Steel shares to $40 from $49 and keeps a Buy rating on the stock.