Monday June 23, 8:12 am ET
Goldman adds US Steel to 'Conviction Buy List,' says company to benefit from higher prices
Aldo Mazzaferro added U.S. Steel to the bank's "America's Conviction Buy List" in a note to investors Friday. He also raised his price target to $228 from $210, implying he expects a 25 percent return on shares in the next 12 months.
Sept 4 (Reuters) - Goldman Sachs downgraded the U.S. steel
sector to "neutral" from "attractive," saying the near-term
concerns continue to weigh on investor sentiment, and
transferred the coverage of the sector to analyst Sal Tharani
from Aldo Mazzaferro. "Several of the typical risks to the steel cycle such as a
rising US dollar, "China fear" and sharply falling scrap prices
have shaken investor confidence in sustainability of steel
cycle," the brokerage said in a note to clients.
I wonder what direction X will trade now?
Based just on the chart, what do you think?
tb
