Bank of America Upgrades United States Steel Corporation to Neutral with Price Target $18.00

Brokerage firm Bank of America Upgrades its rating on United States Steel Corporation(NYSE:X). In a research note issued to the investors, the brokerage major Raises the price-target to $18.00 per share. The shares have been rated Neutral. Previously, the analysts had a Underperform rating on the shares. The rating by Bank of America was issued on Jun 15, 2016.

In a different note, On Jun 10, 2016, Jefferies said it Maintains its rating on United States Steel Corporation. In the research note, the firm Raises the price-target to $10.00 per share. The shares have been rated ‘Underweight’ by the firm. On Jun 8, 2016, Credit Suisse said it Maintains its rating on United States Steel Corporation. In the research note, the firm Raises the price-target to $22.00 per share. The shares have been rated ‘Outperform’ by the firm. On Apr 28, 2016, Macquarie said it Downgrades its rating on United States Steel Corporation. The shares have been rated ‘Underperform’ by the firm. On Apr 28, 2016, Rosenblatt said it Upgrades its rating on United States Steel Corporation. The shares have been rated ‘Buy’ by the firm. On Apr 19, 2016, Barclays said it Maintains its rating on United States Steel Corporation. In the research note, the firm Raises the price-target to $7.00 per share. The shares have been rated ‘Equal-weight’ by the firm. On Apr 8, 2016, UBS said it Downgrades its rating on United States Steel Corporation. The shares have been rated ‘Sell’ by the firm.

United States Steel Corporation (X) shares turned negative on Tuesdays trading session with the shares closing down -0.9 points or -4.92% at a volume of 1,68,03,684. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $18.2. The peak price level was also seen at $18.2 while the days lowest was $16.94. Finally the shares closed at $17.4. The 52-week high of the shares is $23.22 while the 52-week low is $6.15. According to the latest information available, the market cap of the company is $2,548 M.

United States Steel Corporation(X) last announced its earnings results on Apr 26, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $2.34B. Analysts had an estimated revenue of $2.47B. Earnings per share were $-2.15. Analysts had estimated an EPS of $-1.23.

Several Insider Transactions has been reported to the SEC. On May 9, 2016, Paul Anthony Mascarenas (director) purchased 1,000 shares at $18.90 per share price.Also, On May 9, 2016, Stephen J Girsky (director) purchased 2,000 shares at $18.93 per share price.On Aug 24, 2015, Murry Gerber (director) purchased 7,800 shares at $16.88 per share price, according to the Form-4 filing with the securities and exchange commission.

United States Steel Corporation (U. S. Steel) is a steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-rolled Products (Flat-rolled) U. S. Steel Europe (USSE) and Tubular Products (Tubular). The results of the Company’s railroad and real estate businesses are combined under the Other Businesses category. The Flat-rolled Products segment includes the operating results of all facilities within U. S. Steel’s integrated steel plants in the United States except the Fairfield pipe facility. The USSE segment includes the operating results of U. S. Steel Kosice (USSK) the Company’s steel plant and coke production facilities in Slovakia. The Tubular segment includes the operating results of U. S. Steel’s tubular production facilities primarily in the United States and equity investees in the United States and Brazil.

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