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Shares of United States Steel Corporation (NYSE: X) have had an amazing 2016, trading up more than 76 percent year-to-date. However, since the beginning of May, the stock has tumbled more than 26 percent, unlocking plenty of room for upside.
Following the most recent decline—especially the 5.3 percent tumble seen on Friday—top raters of the Vetr community decided to upgrade their rating on shares of United States Steel from four stars (Buy) to 4.5 stars (Strong Buy) out of a possible five-star rating.
The new rating better reflects the crowd’s average price target of $16.10, which implies an upside potential of more than 13.4 percent from current valuations.
Interestingly, it should be noted that 57 percent of the crowd's ratings on the stock are still bearish, implying that the crowd as a whole is not as constructive on the company as top raters are.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
MEMORIAL DAY FLASH SALE: 50% OFF BENZINGA PRO
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