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Goldman Sachs Adjusts Price Targets On Steel & Aluminum Names, Sector Falls

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Analysts at Goldman Sachs on Friday issued the following calls on Steel and Aluminum companies that may explain the sector-wide sell-off. All mentioned stocks were trading lower Friday morning.

Upgrades

  • Nucor Corporation (NYSE: NUE) upgraded to Buy from Neutral with a price target lowered to $52 from a previous $55.

Downgrades

  • United States Steel Corporation (NYSE: X) downgraded to Neutral from Buy with a price target lowered to $23 from a previous $52.

Maintained At Buy

  • Steel Dynamics, Inc. (NASDAQ: STLD) with a price target lowered to $24 from a previous $30.
  • AK Steel Holding Corporation (NYSE: AKS) with a price target lowered to $6.50 from $13.

Maintained At Neutral

  • Allegheny Technologies Incorporated (NYSE: ATI) with a price target lowered to $31 from a previous $40.
  • Century Aluminum Co (NASDAQ: CENX) with a price target lowered to $21 from a previous $26.50.
  • Reliance Steel & Aluminum (NYSE: RS) with a price target lowered to $64 from a previous $70.
  • RTI International Metals, Inc. (NYSE: RTI) with a price target lowered to $22 from a previous $25.
  • Freeport-McMoRan Inc (NYSE: FCX) with a price target lowered to $18 from a previous $31.
  • Commercial Metals Company (NYSE: CMC) with a price target lowered to $14 from a previous $16.
  • Cliffs Natural Resources Inc (NYSE: CLF) with a price target lowered to $7 from a previous $9.

Maintained at Sell

  • Schnitzer Steel Industries, Inc. (NASDAQ: SCHN) with a price target lowered to $14 from a previous $17.
  • Teck Resources Ltd (USA) (NYSE: TCK) with a price target lowered to $13 from a previous $17.

Latest Ratings for AKS

DateFirmActionFromTo
Feb 2020CFRAUpgradesHoldBuy
Dec 2019UBSUpgradesSellNeutral
Dec 2019JP MorganUpgradesUnderweightNeutral

View More Analyst Ratings for AKS
View the Latest Analyst Ratings

 

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Posted-In: Aluminum Goldman SachsAnalyst Color Upgrades Downgrades Price Target Reiteration Analyst Ratings

Latest Ratings

StockFirmActionPT
GIKColliers SecuritiesInitiates Coverage On14.0
SANWLake StreetInitiates Coverage On6.0
LILAMorgan StanleyDowngrades15.0
BEJP MorganUpgrades36.0
NEXACredit SuisseUpgrades11.0
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