Market Overview

UPDATE: Deutsche Bank Reiterates Hold Rating, Lowers PT on AK Steel Holding Corporation

Share:
Related AKS
Bob Pisani Talks Recent Slew Of Strong Earning Reports, Debt Reductions And Energy Stocks
Earnings Scheduled For April 26, 2016
AK Steel Announces Price Increase for Carbon Steel Products (GuruFocus)

In a report published Wednesday, Deutsche Bank reiterated its Hold rating on AK Steel Holding Corporation (NYSE: AKS), but slightly lowered its price target from $6.50 to $6.00.

Deutsche Bank noted, “3Q beat on h-t-e margins, but lowering PT on higher debts & lower est. AK Steel reported 3Q12 adjusted EPS of $0.25 loss vs DBe of $0.38 loss, street cons of $0.35 loss and prior guidance of $0.34-0.39 loss. EBITDA in 3Q was $36m ($27/t) vs. DBe of $30m ($22/t) with both average price & costs b-t-e. Also, other income (FX/Magnetation) helped EPS ($6m). Post 3Q, we lower our ests and also our PT to reflect higher net debt. Hold on what we see as balanced risk/reward.”

AK Steel Holding Corporation closed on Tuesday at $5.19.

Latest Ratings for AKS

DateFirmActionFromTo
Apr 2016MacquarieMaintainsOutperform
Apr 2016UBSDowngradesNeutralSell
Mar 2016Credit SuisseMaintainsUnderperform

View More Analyst Ratings for AKS
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

Related Articles (AKS)

View Comments and Join the Discussion!