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

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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
Jul 2015JP MorganUpgradesNeutralOverweight
Jul 2015MacquarieUpgradesNeutralOutperform
Jun 2015MacquarieMaintainsNeutral

View More Analyst Ratings for AKS
View the Latest Analyst Ratings

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

 

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