Market Overview

UPDATE: Jefferies & Company Reiterates Hold Rating, Lowers PT on AK Steel Holding Corporation

Share:
Related AKS
Mid-Afternoon Market Update: NeuroDerm Surges Following Meeting With FDA; Cerecor Shares Slide
Stocks Hitting 52-Week Highs
Stock Indexes Extend Gains, But Big R&D Biotechs Dive (Investor's Business Daily)

In a report published Monday, Jefferies & Company reiterated its Hold rating on AK Steel Holding Corporation (NYSE: AKS), but lowered its price target from $5.00 to $3.50.

Jefferies noted, “In exchange for >30% dilution to cycle earnings power, through its bond/stock offerings last week, AKS achieved roughly 6 additional quarters of additional liquidity at current cash burn run rates. Amidst continued challenging mkt. conditions, AKS has still to execute what we see as relatively risky RM expansion projects to reduce its cost disadvantage relative to peers. We see better risk-reward elsewhere in steel.”

AK Steel Holding Corporation closed on Friday at $3.57.

Latest Ratings for AKS

DateFirmActionFromTo
Dec 2016Deutsche BankMaintainsHold
Nov 2016JP MorganMaintainsOverweight
Nov 2016MacquarieDowngradesOutperformNeutral

View More Analyst Ratings for AKS
View the Latest Analyst Ratings

Posted-In: Jefferies & CompanyAnalyst Color Price Target Analyst Ratings

 

Related Articles (AKS)

View Comments and Join the Discussion!