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AKS

AK Steel

$7.04

-0.61 (-7.97%)

, MITSY

Mitsui & Co

$292.38

0.5 (0.17%)

19:39
04/10/17
04/10
19:39
04/10/17
19:39

AK Steel dips after Mitsui rejects takeover speculation

Shares of AK Steel (AKS) fell nearly 8% Monday after Japan's Mitsui (MITSY) rejected speculation of a potential merger between the two companies. MITSUI SAYS NO INTEREST: Early Monday morning, a Mitsui spokesperson told Bloomberg that the company is not interested in acquiring AK Steel. The comment followed rumors last week which floated the Japanese conglomerate as potentially interested in AK. PRICE ACTION: AK Steel shares closed Monday's session down 7.97% to $7.04.

AKS

AK Steel

$7.04

-0.61 (-7.97%)

MITSY

Mitsui & Co

$292.38

0.5 (0.17%)

  • 25

    Apr

AKS AK Steel
$7.04

-0.61 (-7.97%)

02/13/17
02/13/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Boeing (BA) downgraded to Underperform from Neutral at Buckingham with the firm saying at current levels, shares are priced for perfection and reflect optimistic free-cash-flow estimates. The firm's analyst expects Boeing shares to underperform on downward estimate revisions, a series of negative catalysts, and multiple compression. 2. Reynolds American (RAI) downgraded to Sector Perform from Outperform at RBC Capital. 3. Occidental Petroleum (OXY) downgraded to Neutral from Buy at Mizuho with analyst Timothy Rezvan citing valuation, muted dividend growth, and increasing unit expense trends. 4. AK Steel (AKS) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Evan Kurtz saying he is concerned about AK's exposure to electrical steel and heavy auto steel, which could prove to be headwinds this year. 5. Williams-Sonoma (WSM) downgraded to Market Perform from Outperform at Telsey Advisory with analyst Cristina Fernandez saying the company is fighting a more competitive environment and softer consumer spending by aggressively increasing promotions to maintain share. The analyst is surprised by the high level of promotions at West Elm and said some real estate contacts have noted softening store sales in December. Fernandez said the turnaround at Pottery Barn could take longer and sees limited margin expansion in 2017. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/22/17
JPMS
03/22/17
NO CHANGE
Target $46
JPMS
Overweight
JPMorgan ups targets in steel, U.S. Steel remains top pick
JPMorgan analyst Michael Gambardella raised his estimates and price targets for U.S. Steel (X), Steel Dynamics (STLD), Nucor (NUE) and AK Steel (AKS) citing conviction that the companies are "poised for stronger earnings growth over the next several quarters." Steel sheet imports will trend downward, even if the Trump administration just enforces existing trade laws, Gambardella tells investors in a research note. U.S. Steel remains his top pick in Metals & Mining. Gambardella raised his price target for the shares to $46 from $39. The analyst also raised his price target for Overweight-rated Nucor to $75 from $70 and Overweight-rated Steel Dynamics to $44 from $41. His target on Neutral-rated AK Steel moved up to $9 from $8.
03/27/17
MSCO
03/27/17
NO CHANGE
MSCO
Steel cost deflatoin could lead to a near-term price peak, says Morgan Stanley
Morgan Stanley analyst Evan Kurtz said East Coast export scrap prices have fallen $30/ton, which could negatively influence April scrap price settlements. The analyst said with no clear change in supply-demand dynamics, coast deflation could lead to a near-term price peak. Kurtz would view any weakness in the space as an opportunity to buy top picks Nucor (NUE), Steel Dynamics (STLD), and U.S. Steel (X).
03/29/17
COWN
03/29/17
NO CHANGE
COWN
Steel sentiment has deteriorated, may have further downside, says Cowen
Cowen analyst Novid Rassouli sand the sentiment in steel stocks has deteriorated following the drop in oil prices, the non-repeal of ACA, and tightening Chinese credit. Rassouli said US HRC prices may come under near-term pressure due to widening domestic versus international spreads and failing scrap prices, leading to additional downside in steel names. The analyst said U.S. Steel (X) and AK Steel (AKS) are the most levered to HRC prices, ArcelorMittal (MT) could see additional downside if iron ore prices continue lower, and views Steel Dynamics (STLD) and Nucor (NUE) as defensive plays given lower fixed cost structures.
MITSY Mitsui & Co
$292.38

0.5 (0.17%)

05/19/16
GSCO
05/19/16
UPGRADE
GSCO
Neutral
Mitsui & Co upgraded to Neutral from Sell at Goldman
Goldman Sachs analyst Hiroyuki Sakaida upgraded Mitsui to Neutral and removed it from the firm's Japan Sell List on the assumption Mitsui will continue to book asset recycling gains, leaving Mitsui in the middle of Goldman's coverage group.

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