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X

U.S. Steel

$22.55

-0.63 (-2.72%)

, AKS

AK Steel

$3.13

-0.09 (-2.80%)

06:28
02/08/19
02/08
06:28
02/08/19
06:28

Steel firms expand in hopes that tariffs will shield, WSJ says

Despite falling prices, steel firms are expanding capacity in the hopes that prices will rebound and hoping that "tariffs will shield them from foreign competition," says the Wall Street Journal. Reference Link

X

U.S. Steel

$22.55

-0.63 (-2.72%)

AKS

AK Steel

$3.13

-0.09 (-2.80%)

NUE

Nucor

$59.37

-1.04 (-1.72%)

STLD

Steel Dynamics

$35.98

-0.97 (-2.63%)

X U.S. Steel
$22.55

-0.63 (-2.72%)

01/28/19
MSCO
01/28/19
UPGRADE
MSCO
Equal Weight
U.S. Steel upgraded to Equal Weight from Underweight at Morgan Stanley
02/01/19
ARGS
02/01/19
NO CHANGE
Target $30
ARGS
Buy
U.S. Steel price target lowered to $30 from $40 at Argus
Argus analyst David Coleman lowered his price target on U.S. Steel to $30 after its "strong Q4 but weak guidance", also lowering his FY19 EPS view to 4.53 from $6.00 based on the management's outlook. The analyst is also concerned that the company's spending on asset revitalization plan will weigh on earnings in the near term, even though he sees its long-term outlook as promising. Coleman keeps his Buy rating on U.S. Steel, saying that its 4.9-times forward earnings multiple is well below the peer average valuation of 9.2-times, with shares also "trading below the peer average for price/sales and price/cash flow."
01/28/19
01/28/19
UPGRADE
Target $21

Equal Weight
Morgan Stanley ups U.S. Steel to Equal Weight on near-term steel price bounce
As previously reported, Morgan Stanley analyst Piyush Sood upgraded U.S. Steel (X) to Equal Weight from Underweight as he thinks the market has sufficiently priced in operational and pricing concerns given the stock's 20% underperformance compared to "mini mills" Steel Dynamics (STLD), Nucor (NUE) and Commercial Metals (CMC) over the last six months. While he thinks a seasonal pickup in U.S. demand should help put a floor under steel pricing, he would look to fade any 3-6 month steel price and sentiment rally, Sood added. He lowered his price target on U.S. Steel shares to $21 from $30.
01/22/19
01/22/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Gap (GPS) downgraded to Sell from Neutral at Goldman Sachs while Tiffany (TIF) was downgraded to Neutral from Buy. 2. U.S. Steel (X) downgraded to Hold from Buy at Jefferies with analyst Seth Rosenfeld saying "poor" Q4 earnings and Q1 guides will begin to reflect the extent of recent steel margin weakness. 3. Fortinet (FTNT) downgraded to Market Perform from Outperform at BMO Capital with analyst Keith Bachman saying he is not bearish on the stock, expecting the firewall market to remain healthy for several years given the changing throughput requirements, but sees the rating change as reflective of its more balanced risk-reward. 4. Crispr Therapeutics (CRSP) downgraded to Sell from Neutral at Citi with analyst Yigal Nochomovitz saying Crispr's near-term valuation driver and lead program in related blood disorders "substantially lags" more advanced competitors. 5. AMC Entertainment (AMC) downgraded to Neutral from Buy at B. Riley FBR with analyst Eric Wold saying the ramp of the company's subscription service Stubs A-List clouds its EBITDA visibility. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
AKS AK Steel
$3.13

-0.09 (-2.80%)

01/30/19
BOFA
01/30/19
DOWNGRADE
BOFA
Underperform
AK Steel downgraded to Underperform from Buy at BofA/Merrill
01/30/19
01/30/19
DOWNGRADE
Target $2.5

Underperform
BofA double downgrades AK Steel to Underperform after outlook disappoints
As previously reported, BofA Merrill Lynch analyst Timna Tanners downgraded AK Steel two notches, to Underperform from Buy, following the company's "disappointing" 2019 guidance, stating that higher contract prices into 2019 were eclipsed by higher raw material costs and maintenance needs. As the most levered U.S. steel company she covers, Tanners believes free cash flow is "critical" to AK Steel and that more limited debt paydown assumptions can hurt sentiment and limit its options, she tells investors. Tanners cut her price target on AK Steel shares in half, lowering it to $2.50 from $5.00 after cutting her 2019/20 EBITDA and EPS estimates.
01/30/19
01/30/19
DOWNGRADE

Neutral
AK Steel downgraded to Neutral on guidance and headwinds at Longbow
As previously reported, Longbow downgraded AK Steel to Neutral from Buy. Analyst Chris Olin said current market conditions and management's full year guidance were below his expectations. He now sees potential headwinds developing from slowing US automotive demand, new carbon sheet supply entering the US market, and potentially higher iron ore prices.
02/05/19
DBAB
02/05/19
NO CHANGE
Target $2.5
DBAB
Hold
AK Steel price target lowered to $2.50 from $3.50 at Deutsche Bank
Deutsche Bank analyst Chris Terry lowered his price target for AK Steel to $2.50 citing the company's "weaker" 2019 guidance and "elevated" leverage levels. The analyst keeps a Hold rating on the shares citing AK's limited free cash flow generation and continued debt overhang.
NUE Nucor
$59.37

-1.04 (-1.72%)

01/22/19
JEFF
01/22/19
DOWNGRADE
Target $24
JEFF
Hold
Jefferies downgrades U.S. Steel to Hold on guidance risk
Jefferies analyst Seth Rosenfeld downgraded U.S. Steel to Hold from Buy and lowered his price target for the shares to $24 from $38. "Poor" Q4 earnings and Q1 guides will begin to reflect the extent of recent steel margin weakness, Rosenfeld tells investors in a research note. The analyst, while remaining "constructive" on the broader Steel sector, downgraded U.S. Steel to reflect guidance risk and "increasingly challenged" long-term prospects. With both U.S. and European flat steel margins drifting lower, drivers for a "meaningful recovery" at the company are "hard to identify," says the analyst. As such, he believes U.S. Steel's 2019 EBITDA guidance risks disappointing consensus expectations. Rosenfeld's top picks in the U.S. are Nucor (NUE), Commercial Metals (CMC), Steel Dynamics (STLD), Reliance Steel (RS) and Cleveland-Cliffs (CLF).
01/08/19
COWN
01/08/19
INITIATION
Target $62
COWN
Outperform
Nucor initiated with an Outperform at Cowen
Cowen analyst Tyler Kenyon initiated Nucor with an Outperform and $62 price target.
01/08/19
01/08/19
UPGRADE
Target $70

Outperform
Credit Suisse says Nucor 'oversold,' upgrades to Outperform
As previously reported, Credit Suisse analyst Curt Woodworth upgraded Nucor to Outperform from Neutral as he believes the stock is oversold relative to medium term fundamentals. While the U.S. sheet markets are weak, the long product and plate markets are very strong and account for about 60% of total volume at Nucor, he contends. Further, Woodworth argues that while Nucor's capital spending profile the next few years is high, the company will still have plenty of bandwidth to repurchase shares given Big River is off the table. The analyst also lowered his price target on the shares to $70 from $74.
STLD Steel Dynamics
$35.98

-0.97 (-2.63%)

01/08/19
01/08/19
UPGRADE
Target $43

Outperform
Steel Dynamics upgraded to Outperform on valuation at Credit Suisse
As previously reported, Credit Suisse analyst Curt Woodworth upgraded Steel Dynamics to Outperform from Neutral on valuation and near-term bottom in HRC prices. The analyst also lowered his price target on the shares to $43 from $51.
01/08/19
COWN
01/08/19
INITIATION
Target $32
COWN
Market Perform
Steel Dynamics initiated with a Market Perform at Cowen
Cowen analyst Tyler Kenyon initiated Steel Dynamics with a Market Perform and $32 price target.

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Applied Materials

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6.28 (3.69%)

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Disney

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NFLX

Netflix

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FDX

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EFX

Equifax

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KEY

KeyCorp

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SBNY

Signature Bank

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1.07 (0.87%)

USB

U.S. Bancorp

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MA

MasterCard

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Visa

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PYPL

PayPal

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T

AT&T

$32.77

-0.32 (-0.97%)

, CMCSA

Comcast

$44.06

-0.5 (-1.12%)

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CMCSA

Comcast

$44.06

-0.5 (-1.12%)

CMCSK

Comcast

$0.00

(0.00%)

SNE

Sony

$53.68

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LGF.A

Lionsgate

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0.36 (3.11%)

DIS

Disney

$139.86

-1.76 (-1.24%)

VIAB

Viacom

$30.48

-0.11 (-0.36%)

VIA

Viacom

$35.24

0.24 (0.69%)

03/08/13
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EFX

Equifax

$137.29

-2 (-1.44%)

17:23
07/21/19
07/21
17:23
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17:23
Periodicals
Equifax agrees to pay $700M after massive data breach, WSJ reports »

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CBS

CBS

$50.68

-0.66 (-1.29%)

, T

AT&T

$32.77

-0.32 (-0.97%)

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NFLX

Netflix

$315.10

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17:11
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JNJ

Johnson & Johnson

$130.41

-1.62 (-1.23%)

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MRKR

Marker Therapeutics

$6.28

-2.4 (-27.65%)

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RDY

Dr. Reddy's

$37.73

-0.6 (-1.57%)

16:41
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  • 29

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KLAC

KLA-Tencor

$131.95

-1.5 (-1.12%)

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LRCX

Lam Research

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16:33
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MRVL

Marvell

$25.90

-0.48 (-1.82%)

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KEYS

Keysight Technologies

$87.43

0.05 (0.06%)

16:29
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MU

Micron

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0.85 (1.90%)

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TCEHY

Tencent

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MIRM

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PHR

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GMAB

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AMK

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DOYU

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Johnson & Johnson

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PYPL

PayPal

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Visa

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PayPal

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MA

MasterCard

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U.S. Bancorp

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Signature Bank

$123.87

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08:28
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KeyCorp, U.S. Bancorp better positioned for Fed rate cut, Barron's says »

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KeyCorp

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CMG

Chipotle

$746.80

-17.43 (-2.28%)

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Chipotle stock made 'stunning' comeback, Barron's says »

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BYND

Beyond Meat

$176.65

6.28 (3.69%)

07:40
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Periodicals
Beyond Meat could spike after earnings, Barron's says »

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