Axioms Gordon Johnson Says US Steel Corp Will Not Reduce Costs Enough To Buffer Downward Cyclical Forces; China Devaluation Is Nail in the Coffin For Steel Demand

by Benzinga Staff
August 21, 2015 7:46 AM | 14 seconds read | Make a Comment

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Johnson initiates US Steel at Sell with a PT of $11.00. He notes US Steel Tubular shipments carry an 89% R-squared with US Oil Rigs from Q1 2002 to Q2 2015. This drives forecasts for EBIT lower under the headwinds of ever declines oil prices.

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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.

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