AK Steel (AKS) -3.6% premarket after Goldman Sachs downgrades shares to Sell from Neutral with a...

|About: AK Steel Holding Corp (AKS)|By:, SA News Editor

AK Steel (AKS) -3.6% premarket after Goldman Sachs downgrades shares to Sell from Neutral with a $3 price target, down from $3.50. The firm believes the recent rise in the stock price is unwarranted given its view of continuing weak flat steel prices, a highly leveraged balance sheet, high pension funding requirements, high capex to fund its raw material strategy, and no sign of turnaround in its electrical steel business.