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UPDATE: Citigroup Downgrades U.S. Steel in Light of Falling Price Environment

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In a report issued Tuesday, Citigroup downgraded U.S. Steel (NYSE: X) from Neutral to Sell and adjusted the price target to $23.

In the report, Citigroup's Brian Yu commented on both US Steel's new management and captive iron ore mines stating, "US Steel appears stronger with new management removing costs but this may not be enough in a falling price environment." Yu continued, "this is unlikely to change given the company's captive iron ore mines, which provide a raw materials advantage but also greater fixed over variable cost structure."

At last check, U.S. Steel was trading at $26.06.

Latest Ratings for X

DateFirmActionFromTo
May 2019DowngradesNeutralSell
Apr 2019DowngradesBuyUnderperform
Apr 2019DowngradesNeutralUnderperform

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Posted-In: Analyst Color Downgrades Price Target Analyst Ratings

 

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