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Citigroup lowers its rating on AK Steel (AKS -4.8%) to Sell from Neutral and cuts its price...

Citigroup lowers its rating on AK Steel (AKS -4.8%) to Sell from Neutral and cuts its price target to $3.50 from $5.50. Citigroup says its move is "based partly on our steel price outlook but more importantly on a further deterioration in our modeled negative free cash flow outlook." U.S. Steel (X) -2.2% premarket.
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