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X

U.S. Steel

$20.98

0.82 (4.07%)

11:10
06/19/17
06/19
11:10
06/19/17
11:10

US Steel sees call buying

US Steel sees call buying. The stock up 79c to $20.75 and 10K Jul 22 calls bought for 98c per contract, tied. Open interest is enough to cover, but note that July calls on Steel Dynamics (STLD) and Nucor (NUE) are seeing opening activity Monday and that 15.1K Jun 22 calls on US Steel expired Friday. Today's 10K lot of Jul 22 calls likely replaces those. 11.6K traded total. Jun 23rd 21.5 calls, Jun 23rd 22 calls, and Jul 21 calls are next most active. Total volume lopsided 4:1 at 12K puts and 48K calls.

X U.S. Steel
$20.98

0.82 (4.07%)

06/19/17
LBOW
06/19/17
NO CHANGE
LBOW
Steel stocks upgraded on positive price outlook at Longbow
As noted earlier, Longbow upgraded steelmakers Nucor (NUE), Steel Dynamics (STLD), U.S. Steel (X) and AK Steel (AKS) to Buy from Hold. After speaking with contacts in the sector, analyst Chris Olin says they expect steel HRC prices to rise $50-$60 per ton, driven by "a (recent) modest uptick in downstream steel orders, inventory adjustments and a large pullback in the number of steel import offers." In the wake of his checks, Olin now sees the chances of near-term government support of the U.S. steel sector in the form of protection from imports at 70%-80%, up from 50% last month. The analyst reports that "some buyers" expect price to rise to $700-$750 per ton following the government action, up from $590-$600 currently. Nucor target $66, Steel Dynamics target $40, U.S. Steel target $30, AK Steel target $10.
06/19/17
LBOW
06/19/17
UPGRADE
LBOW
Buy
U.S. Steel upgraded to Buy from Neutral at Longbow
06/15/17
AXIO
06/15/17
NO CHANGE
AXIO
U.S. Steel is '2019 story,' says Axiom
After meeting with U.S. Steel's new CEO, Dave Burritt, Axiom analyst Gordon Johnson believes that the company is viewing the next 18-24 months as "a restructuring period" that will feature higher spending on "asset revitalization." The analyst quotes Burritt as saying that he expects Congress to pass a "large bi- partisan infrastructure bill in mid-'18, bearing fruit in '19." Johnson now sees U.S. Steel as a "2019 story," and he warns that the company is likely to miss its $1B 2017 EBITDA guidance due to higher spending on asset revitalization. Johnson keeps a Sell rating on the stock.
06/15/17
COWN
06/15/17
NO CHANGE
Target $21
COWN
Market Perform
Cowen maintains cautious stance on U.S. Steel
Cowen analyst Novid Rassouli met with the new CEO of U.S. Steel and noted the company is focused on achieving asset stability over the next one to two years. However, he continues to see the risk of continued operational issues and thus maintains his cautious stance on the shares. Rassouli maintained his Market Perform rating and $21 price target on U.S. Steel.

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XLF

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Citi

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BAC

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FB

Facebook

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NTRS

Northern Trust

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SBOT

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CMA

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JPM

JPMorgan

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BBVA

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ZION

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MBUU

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CIT

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STI

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BK

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CFG

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