Seeking Alpha

U.S. Steel raised to Buy at Nomura on free cash flow potential

  • US Steel (X) is upgraded to Buy from Neutral with a $32 price target, up from $27, at Nomura on free cash flow potential.
  • Nomura says it sees many reasons to own X after the stock's 18% correction since January; after meeting with the CEO and CFO last week, the firm has increased conviction in the company’s direction as well as the opportunity sets in the commercial, financial and operating functions of the business, and sees cash flow significantly increasing in the coming years.
  • Shares -0.5% premarket.
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