UPDATE: Citigroup Lowers PT on United State Steel from $35 to $30 - United States Steel (NYSE:X)

27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.

Citigroup maintained a Buy rating on United States Steel (NYSE: X) and lowered its price target from $35 to $30.Citigroup commented, “We estimate 2Q EPS of $0.37 on revenues of $4,978 mln and EBITDA of $271 mln. Consensus EPS is $0.47. Adjusting our longer-term model for revised steel forecasts, we are reducing our '12 estimate to $1.25, '13 to $2.00 and '14 to $2.45. Based on our lower earnings outlook we reduce our target price to $30/sh from $35/sh.”United States Steel closed at $20.24 on Friday.

27% profit every 20 days?

ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!