United States Steel Corp. (NYSE:X)‘s stock had its “hold” rating reaffirmed by analysts at Deutsche Bank in a research report issued to clients and investors on Wednesday, Stock Ratings Network.com reports. They currently have a $28.00 target price on the stock, up from their previous target price of $26.00. Deutsche Bank’s target price would suggest a potential upside of 5.50% from the stock’s previous close.
The analysts wrote, “The tune at USS has changed and many investors are more favorable on company prospect. Meanwhile, we downgraded USS in Oct with a view that + catalysts & sentiment had likely peaked. In this report, we again recognize that some l-t benefits are to materialize from company initiatives & we are raising ests to reflect our views on steel costs/margins. However, restructuring benefits (direct costs) beyond what we have assumed seems aggressive, add’l benefits will take time and its early to label USS as ‘changed’. Also, we believe these benefits are priced-in (6x ’14 adj-EBITDA) and that US HRC prices are not sustainable & that investor interest will wane when steel prices ease. Hold.”
United States Steel Corp. (NYSE:X) opened at 26.92 on Wednesday. United States Steel Corp. has a 52 week low of $15.80 and a 52 week high of $28.41. The stock has a 50-day moving average of $25.16 and a 200-day moving average of $20.32. The company’s market cap is $3.894 billion.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, December 10th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Friday, November 8th.
X has been the subject of a number of other recent research reports. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of United States Steel Corp. in a research note to investors on Monday, November 18th. They now have a $29.00 price target on the stock, up previously from $26.00. Separately, analysts at Morgan Stanley upgraded shares of United States Steel Corp. from an “equal weight” rating to an “overweight” rating in a research note to investors on Wednesday, November 13th. They now have a $35.00 price target on the stock, up previously from $32.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of United States Steel Corp. in a research note to investors on Thursday, November 7th. They now have a $28.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the company. United States Steel Corp. presently has an average rating of “Hold” and an average target price of $23.27.
United States Steel Corporation (NYSE:X) produces and sells steel mill products, including flat-rolled and tubular products, in North America and Europe.
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