UPDATE: Nomura Upgrades United States Steel Corporation to Buy, Raises PT on Significant FCF Potential

In a report published Monday, Nomura analyst Curt Woodworth upgraded the rating on

from Neutral to Buy, and raised the price target from $27.00 to $32.00. In the report, Nomura noted, “We are upgrading US Steel to Buy and increasing our PT to $32 from $27 to account for higher through-the-cycle EBITDA / FCF generation. After the stock's 18% correction since January (vs. S&P500 +2%), we see many reasons to own X. After meeting with the CEO and CFO last week, we have increased conviction in the company's direction as well as the opportunity sets in the commercial, financial, and operating functions of the business. We see US Steel's cash flow significantly increasing in the coming years.” United States Steel Corporation closed on Friday at $24.84.