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Copper will be in short supply next year, so Goldman Sachs raises its rating on Freeport McMoRan...

Copper will be in short supply next year, so Goldman Sachs raises its rating on Freeport McMoRan (FCX +2.1%) to Buy, with a target price of $94, up from $79. Steel prices, however, will remain “range bound,” but Steel Dynamics (STLD -0.2%) is the “best positioned” U.S. steel maker. Ratings for U.S. Steel (X -1.6%) and Nucor (NUE -0.3%) are cut with lower estimates.
Comments (1)
  • I am curious as to how he arrived at the analysis that STLD was the "best-positioned", when $X has far greater control over their input costs, and is less vulnerable to the price swings in Iron Ore and input materials.
    20 Sep 2010, 02:52 PM Reply Like
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