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X

U.S. Steel

$43.57

-0.12 (-0.27%)

, CENX

Century Aluminum

$20.81

0.66 (3.28%)

09:02
03/13/18
03/13
09:02
03/13/18
09:02

OECD urges dialogue on steel overcapacity to avoid trade war, CNBC reports

The Organization for Economic Co-operation and Development is urging governments to work together to fix overcapacity in the steel markets and prevent a trade war, CNBC reports, citing the OECD. "Governments should avoid escalation and rely on global solutions to resolve excess capacity in the global steel industry," the organization said. "Trade protectionism remains a key risk that would negatively affect confidence, investment and jobs." Publicly traded metal producers include U.S. Steel (X), Century Aluminum (CENX), Alcoa (AA), and AK Steel (AKS). Reference Link

X

U.S. Steel

$43.57

-0.12 (-0.27%)

CENX

Century Aluminum

$20.81

0.66 (3.28%)

AA

Alcoa

$48.36

0.5 (1.04%)

AKS

AK Steel

$5.36

0.1 (1.90%)

X U.S. Steel
$43.57

-0.12 (-0.27%)

03/13/18
VERF
03/13/18
DOWNGRADE
Target $23
VERF
Sell
U.S. Steel downgraded to Sell from Hold at Vertical Group
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.
03/09/18
COWN
03/09/18
NO CHANGE
COWN
Cowen sees upside for entire steel group with tariff decision
Cowen analyst Novid Rassouli said he sees upside for the entire steel group following the announced decision on tariffs for imported steel and aluminum. He said the entire steel group is trading at a discount to current spot steel prices. The analyst also believes Century Aluminum (CENX) will be the biggest beneficiary on the aluminum side, as he sees it as the best vehicle to capitalize. Publicly traded companies in the steel space include U.S. Steel (X), Steel Dynamics (STLD), AK Steel (AKS), Cleveland-Cliffs (CLF), Nucor (NUE) and ArcelorMittal (MT).
03/09/18
JPMS
03/09/18
UPGRADE
Target $30
JPMS
Overweight
Commercial Metals upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Michael Gambardella upgraded Commercial Metals (CMC) to Overweight and raised his price target for the shares to $30 from $24 to reflect his expectation for higher steel prices. Tariffs from the 232 ruling and consolidation in the rebar market should lead to higher rebar prices, Gambardella tells investors in a research note. The analyst is also "doubling down" on U.S. Steel (X) and boosted his price target for the shares to $69.
03/08/18
FBCO
03/08/18
NO CHANGE
FBCO
Huntington Ingalls, U.S. Steel new number 1 Top Picks at Credit Suisse
Credit Suisse added four new number 1 to its Top Picks list, namely Huntington Ingalls (HII), Restaurant Brands (QSR), RSP Permian (RSPP). U.S. Steel (X) and upgraded eBay (EBAY).
CENX Century Aluminum
$20.81

0.66 (3.28%)

03/13/18
COWN
03/13/18
UPGRADE
Target $30
COWN
Outperform
Century Aluminum upgraded to Outperform at Cowen
As previously reported, Cowen analyst Novid Rassouli upgraded Century Aluminum to Outperform from Market Perform. The analyst's upgrade is primarily due to the Trump tariff, which is allowing the company to restart significant production capacity. Rassouli raised his price target to $30 from $23 on Century Aluminum shares.
03/13/18
COWN
03/13/18
UPGRADE
COWN
Outperform
Century Aluminum upgraded to Outperform from Market Perform at Cowen
03/12/18
BMOC
03/12/18
UPGRADE
Target $28
BMOC
Outperform
Century Aluminum upgraded to Outperform at BMO Capital on impact of steel tariff
As reported earlier, BMO Capital analyst David Gagliano upgraded Century Aluminum to Outperform from Market Perform and raised his price target to $28 from $20. The analyst attributes his revisions to his longer-term model of profitability and cash generation derived from the positive impact of the latest U.S. tariffs on steel and aluminum that are expected to produced "both higher volumes and higher Midwest premiums". Gagliano sees over $450M in annual EBITDA as a result of the pricing/volumes reset following the tariffs, but also warns that EBITDA will not rise right away because of the expected up-front Hawesville start-up costs with no volume benefits.
03/11/18
BMOC
03/11/18
UPGRADE
BMOC
Outperform
Century Aluminum upgraded to Outperform from Market Perform at BMO Capital
AA Alcoa
$48.36

0.5 (1.04%)

01/11/18
SBSH
01/11/18
NO CHANGE
Target $65
SBSH
Buy
Alcoa price target raised to $65 from $53 at Citi
Citi analyst Alexander Hacking raised his price target for Alcoa to $65 on the belief that "sustainably higher" aluminum prices, supported by the cost curve, will re-rate multiples higher. The analyst believes the stock looks inexpensive and he keeps a Buy rating on the shares.
01/18/18
JPMS
01/18/18
NO CHANGE
Target $68
JPMS
Overweight
Alcoa price target raised to $68 from $55 at JPMorgan
JPMorgan analyst Michael Gambardella raised his price target for Alcoa to $68 following the company's Q4 results to reflect higher alumina and aluminum prices. The analyst notes, however, that higher raw material costs are acting as a partial offset. Alumina and aluminum prices will be supported by capacity cuts in China and Alcoa has "significant leverage" to these prices given its attractive cost structure, Gambardella tells investors in a post-earnings research note. He also thinks the stock could benefit from Alcoa potentially being added to the S&P 500 in the next few months. The analyst keeps an Overweight rating on the shares.
01/18/18
BOFA
01/18/18
NO CHANGE
Target $63
BOFA
Buy
Alcoa price target lowered to $63 from $67 at BofA/Merrill
BofA/Merrill analyst Timna Tanners lowered her price target for Alcoa to $63 from $67 following quarterly results. While the company reported above consensus 2018E EBITDA outlook, cost pressures dampened enthusiasm, the analyst notes. Nonetheless, Tanners reiterates a Buy rating on the shares given her above guidance EBITDA forecasts on a positive view on aluminum, and as she believes cash return to shareholders likely in H2 is a positive catalyst.
12/20/17
FBCO
12/20/17
UPGRADE
Target $61
FBCO
Outperform
Credit Suisse upgrades Alcoa ahead of aluminum market tightening
Credit Suisse analyst Curt Woodworth upgraded Alcoa to Outperform from Neutral and raised his price target for the shares to $61 from $42. The aluminum market is set to tighten into 2018, as structural policies in China address captive coal plants and illegal smelters remain intact, Woodworth tells investors in a research note. The analyst sees downstream demand "sharply" recovering in Q1 of 2018 and views Alcoa's valuation as compelling at current levels. The company is set to become a capital return story with $525M of potential capital to be returned in 2018 via dividends or buybacks, Woodworth contends. Further, the analyst thinks Alcoa could be added to the S&P 500 index in 2018.
AKS AK Steel
$5.36

0.1 (1.90%)

01/31/18
01/31/18
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. Apple (AAPL) downgraded to Market Perform from Outperform at BMO Capital with analyst Tim Long saying that while the press has recently speculated about the order cuts for iPhone X, which he says reflects his first quarter model for a "weaker mix," he is "more concerned by a secular change" for the iPhone product. AK Steel (AKS) downgraded to Underperform from Buy at BofA/Merrill with analyst Timna Tanners saying AK Steel's "disappointing" first quarter and normalized earnings guidance is due to management's "commodity neutral approach," which limits benefits from higher steel prices. 3. U.S. Bancorp (USB) downgraded to Underweight from Neutral at JPMorgan with analyst Vivek Juneja saying the benefit from tax cuts and improving consumer spending are likely to be offset by increased tech spending. 4. Wayfair (W) downgraded to Accumulate from Buy at Gordon Haskett analyst Chuck Grom saying he believes it is important to remain disciplined with the stock at an all-time high, though Grom notes the rating change should not be interpreted as a concern for near-term sales trends, which he believes appear strong. 5. MetLife (MET) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Alex Scott citing ongoing uncertainty from an expanded reserve review following the announcement it will incur a $525M-$575M charge. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/20/18
MSCO
02/20/18
NO CHANGE
MSCO
U.S. Steel a key beneficiary of Section 232 scenarios, says Morgan Stanley
After the Department of Commerce released its report on U.S. investigations into the impact on national security from imports of steel mill products, Morgan Stanley analyst Piyush Sood explored the three steel import scenarios presented, saying he assign the highest probability to the "tariff+quota" scenario. In all scenarios, he sees outsized gains for pipe/tube/OCTG producers and a tighter flat rolled market, calling U.S. Steel (X) a "key beneficiary." He thinks other flat rolled producers - including Steel Dynamics (STLD), Nucor (NUE) and AK Steel (AKS) - would benefit from greater tightness, but sees U.S. Steel as the biggest beneficiary of higher pricing, he tells investors.
03/02/18
FBCO
03/02/18
NO CHANGE
Target $48
FBCO
Outperform
Credit Suisse 'bullish' on U.S. steel sector following tariff announcement
Credit Suisse analyst Curt Woodworth said he is "bullish" on the U.S. steel sector following President Trump's announcement that he will implement 25% tariffs on steel and 10% tariffs on aluminum next week. In a research note to investors, Woodworth said his top picks in the sector are "volumetric winners" U.S. Steel (X) and Commercial Metals (CMC) and "price winners" Nucor (NUE) and Steel Dynamics (STLD), but he will await clarity on any exemption process before adjusting his price deck and earnings estimates.

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IIPR

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Microsoft

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$42.09

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Alphabet Class A

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Alphabet

$1,204.85

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Lyft

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12:42
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DIS

Disney

$108.30

-0.36 (-0.33%)

, AAPL

Apple

$191.11

-3.96 (-2.03%)

12:38
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Streaming revolution too complicated, Barron's says »

The streaming revolution…

DIS

Disney

$108.30

-0.36 (-0.33%)

AAPL

Apple

$191.11

-3.96 (-2.03%)

CMCSK

Comcast

$0.00

(0.00%)

CMCSA

Comcast

$39.56

-0.49 (-1.22%)

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FB

Facebook

$164.25

-1.83 (-1.10%)

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Alphabet

$1,204.85

-26.86 (-2.18%)

08:18
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FB

Facebook

$164.25

-1.83 (-1.10%)

GOOG

Alphabet

$1,204.85

-26.86 (-2.18%)

GOOGL

Alphabet Class A

$1,206.00

-30.38 (-2.46%)

TWTR

Twitter

$32.98

0.37 (1.13%)

GM

General Motors

$36.51

-0.84 (-2.25%)

AMD

AMD

$26.43

-1.47 (-5.27%)

INTC

Intel

$53.20

-1.41 (-2.58%)

MRVL

Marvell

$19.69

-1.11 (-5.34%)

MCHP

Microchip

$85.50

-1.83 (-2.10%)

MU

Micron

$41.68

-2.32 (-5.27%)

NVDA

Nvidia

$177.40

-6.52 (-3.55%)

QCOM

Qualcomm

$56.71

-1.05 (-1.82%)

TXN

Texas Instruments

$109.51

-2.68 (-2.39%)

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21:30
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PLNT

Planet Fitness

$66.76

-0.825 (-1.22%)

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IRDM

Iridium

$26.40

-0.38 (-1.42%)

18:22
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DJX

Dow Jones Industrial Average

$0.00

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S&P 500

$0.00

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Sen. Sanders calls on White House to make Mueller report public »

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Dow Jones Industrial Average

$0.00

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S&P 500

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SPY

SPDR S&P 500 ETF Trust

$279.37

-5.26 (-1.85%)

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IDTI

Integrated Device

$47.80

-0.04 (-0.08%)

, RNECY

Renesas

$0.00

(0.00%)

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IDTI

Integrated Device

$47.80

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Renesas

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DJX

Dow Jones Industrial Average

$0.00

(0.00%)

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S&P 500

$0.00

(0.00%)

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Senator Warren urges AG Barr to release Mueller report to the public »

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Dow Jones Industrial Average

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SPDR S&P 500 ETF Trust

$279.37

-5.26 (-1.85%)

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BA

Boeing

$362.49

-10.2 (-2.74%)

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GLD

SPDR Gold Shares

$123.97

0.29 (0.23%)

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ONEXF

Onex

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DZSI

DASAN Zhone

$12.10

-0.12 (-0.98%)

17:35
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Breaking Syndicate news story on DASAN Zhone »

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REPH

Recro Pharma

$9.73

0.1 (1.04%)

17:35
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DZSI

DASAN Zhone

$12.10

-0.12 (-0.98%)

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Breaking Syndicate news story on DASAN Zhone »

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  • 28

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DJX

Dow Jones Industrial Average

$0.00

(0.00%)

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S&P 500

$0.00

(0.00%)

17:34
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White House says hasn't received, been briefed on Mueller report, WSJ says »

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SPY

SPDR S&P 500 ETF Trust

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CATS

Catasys

$13.19

-0.39 (-2.87%)

17:26
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17:26
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Breaking Syndicate news story on Catasys »

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USWS

U.S. Well Services

$7.74

-0.54 (-6.52%)

17:20
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03/22
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17:20
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Breaking Syndicate news story on U.S. Well Services »

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