Seeking Alpha

U.S. Steel +1.9% as Deutsche Bank upgrades to Buy

  • U.S. Steel (NYSE:X) +1.9% premarket after Deutsche Bank upgrades shares to Buy from Hold with a $40 price target, up from $28, citing the company's better than expected Q2 results and Carnegie Way transformation.
  • The firm notes that U.S. Steel expects Q3 results to improve significantly as operations normalize, and that the lack of weather-related challenges will generate a favorable impact of $150M for its U.S. flat-rolled segment.
  • The company continues to make headway in its Carnegie Way program, DB says, with new projects implemented in Q2 expected to drive additional benefits of $145M in 2014 and $435M total.
  • As a result, DB's 2014 EBITDA estimate now comes in at $1.1B, +3% vs. its prior estimate, and estimated 2015 EBITDA is $1.4B, +11% from its earlier estimate.
From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs