Analysts at Goldman Sachs on Friday issued the following calls on Steel and Aluminum companies that may explain the sector-wide sell-off.
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Upgrades
- Nucor Energy NUE upgraded to Buy from Neutral with a price target lowered to $52 from a previous $55.
- U.S. Steel X downgraded to Neutral from Buy with a price target lowered to $23 from a previous $52.
- Steel Dynamics STLD with a price target lowered to $24 from a previous $30.
- AK Steel AKS with a price target lowered to $6.50 from $13.
- Allegheny Technologies ATI with a price target lowered to $31 from a previous $40.
- Century Aluminum Company CENX with a price target lowered to $21 from a previous $26.50.
- Reliance Steel & Aluminum Company RS with a price target lowered to $64 from a previous $70.
- RTI International Metals RTI with a price target lowered to $22 from a previous $25.
- Freeport-McMoRan FCX with a price target lowered to $18 from a previous $31.
- Commercial Metals Company CMC with a price target lowered to $14 from a previous $16.
- Cliffs Natural Resources CLF with a price target lowered to $7 from a previous $9.
- Schnitzer Steel Industries SCHN with a price target lowered to $14 from a previous $17.
- Teck Resources TCK with a price target lowered to $13 from a previous $17.
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