- U.S. Steel (NYSE:X) is maintained with an Outperform rating at Credit Suisse despite recent weakness in the shares, after analysts meet CEO David Burritt and come away impressed with the new leader and increased conviction in the company's strategic direction.
- Analysts Curt Woodworth and Serena Rocha Calejon say the new CEO is "very committed to the multi-year asset revitalization program owing to compelling project IRRs, which are expected to exceed cost of capital at the trough of the cycle."
- The firm believes a strong recovery in oil country tubular goods fundamentals and better operational execution in the U.S. flat rolled segment will drive multiple expansion over the medium term.