Goldman Sachs cuts its 2014-15 EPS estimates for steel producers due to lower expected steel...

|By:, SA News Editor

Goldman Sachs cuts its 2014-15 EPS estimates for steel producers due to lower expected steel prices (SLX) and only modest increases in orders despite macro data indicating an improving market. Price-sensitive names AK Steel (AKS) and U.S. Steel (X) could suffer further declines, the firm says as it prefers specialty companies such as Reliance Steel (RS) and Carpenter Tech (CRS).