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X

U.S. Steel

$34.50

-4.26 (-10.99%)

, AKS

AK Steel

$4.50

-0.43 (-8.72%)

06:40
03/23/18
03/23
06:40
03/23/18
06:40

Steel, aluminium tariffs will be imposed on Norway, Reuters says

U.S. tariffs on steel and aluminium will apply to Norway, the country's foreign minister said on Friday, calling on her American counterparts to remedy the situation. said Reuters. Companies in the space include, Alcoa (AA), U.S. Steel (X) AK Steel (AKS) Nucor (NUE), Steel Dynamics (STLD) and Century Aluminum (CENX). Reference Link

X

U.S. Steel

$34.50

-4.26 (-10.99%)

AKS

AK Steel

$4.50

-0.43 (-8.72%)

NUE

Nucor

$61.09

-4.26 (-6.52%)

STLD

Steel Dynamics

$42.92

-3.48 (-7.50%)

CENX

Century Aluminum

$16.76

-3.64 (-17.84%)

  • 30

    Apr

X U.S. Steel
$34.50

-4.26 (-10.99%)

03/20/18
GSCO
03/20/18
INITIATION
Target $45
GSCO
Neutral
U.S. Steel initiated with a Neutral at Goldman Sachs
Goldman Sachs analyst Matthew Korn started U.S. Steel with a Neutral rating and $45 price target while rolling out coverage on the Americas Metals & Mining sector with an Attractive view.
03/16/18
JPMS
03/16/18
NO CHANGE
Target $69
JPMS
Overweight
U.S. Steel guidance implies $63 share price, says JPMorgan
U.S. Steel's 2018 EBITDA guidance of $1.7B suggests an annualized EBITDA level of $2.2B in the second half of 2018, which implies a share price of $63 based on the company's long-term EBITDA multiple of 5.6 times, JPMorgan analyst Michael Gambardella tells investors in a research note. Further, the analyst views the guidance as being conservative with both the recent bond deal and the Section 232 tariffs going into effect next week. He would be a buyer of U.S. Steel and reiterates an Overweight rating on the name with a $69 price target.
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).
AKS AK Steel
$4.50

-0.43 (-8.72%)

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.
03/20/18
GSCO
03/20/18
INITIATION
Target $6
GSCO
Neutral
AK Steel initiated with a Neutral at Goldman Sachs
Goldman Sachs analyst Matthew Korn started AK Steel with a Neutral rating and $6 price target while rolling out coverage on the Americas Metals & Mining sector with an Attractive view.
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.
NUE Nucor
$61.09

-4.26 (-6.52%)

03/20/18
GSCO
03/20/18
INITIATION
Target $78
GSCO
Buy
Nucor initiated with a Buy at Goldman Sachs
Goldman Sachs analyst Matthew Korn started Nucor with Buy rating and $78 price target while rolling out coverage on the Americas Metals & Mining sector with an Attractive view. The analyst sees shares in the space supported by high commodity prices, "more rational" supply dynamics and "healthier" balance sheets.
STLD Steel Dynamics
$42.92

-3.48 (-7.50%)

03/20/18
GSCO
03/20/18
INITIATION
Target $59
GSCO
Buy
Steel Dynamics initiated with a Buy at Goldman Sachs
Goldman Sachs analyst Matthew Korn started Steel Dynamics with a Buy rating and $59 price target while rolling out coverage on the Americas Metals & Mining sector with an Attractive view. The analyst sees shares in the space supported by high commodity prices, "more rational" supply dynamics and "healthier" balance sheets.
CENX Century Aluminum
$16.76

-3.64 (-17.84%)

03/13/18
COWN
03/13/18
UPGRADE
COWN
Outperform
Century Aluminum upgraded to Outperform from Market Perform at Cowen
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.
03/14/18
JPMS
03/14/18
UPGRADE
Target $29
JPMS
Overweight
Century Aluminum upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Michael Gambardella upgraded Century Aluminum to Overweight and raised his price target for the shares to $29 from $18 citing the price impact of a 10% tariff from President Trump's Section 232 decision on aluminum imports. Century Aluminum should benefit "significantly" from a higher all-in aluminum price and the company's greater earnings base from Hawesville, leading to higher earnings and cash flow, Gambardella tells investors in a research note.
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.

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  • 07

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L Brands

$32.34

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$19.44

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$NSD

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$NYE

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