GLJ Research analyst Gordon Johnson upgraded US Steel (NYSE: X) from Hold to Buy with a price target of $17.30.
-Foreseeing a revival of car demand in the U.S., and a revival of "high-end auto steel markets" alongside it, GLJ says it is currently seeing the "most bullish setup we've seen for the US steel sector since mid-2019.
-Global steel prices [are] surging, This is happening at the same time as the U.S. steel market is enduring "acute shortages" in supply.
-GLJ sees "massive ... liquidity" from government stimulus efforts, and more coming down the pike from a "stimulus-friendly Biden Administration."
- In GLJ's view, U.S. Steel, which cost $11 and change yesterday could conceivably soar as high as $17.30 over the next 12 months
fool.com/investing/2020/11/24/why-us-steel-cleveland-cliffs-and-aluminum-corpora/
streetinsider.com/Analyst+Comments/GLJ+Research+Upgrades+US+Steel+(X)+to+Buy/17641881.html
-Foreseeing a revival of car demand in the U.S., and a revival of "high-end auto steel markets" alongside it, GLJ says it is currently seeing the "most bullish setup we've seen for the US steel sector since mid-2019.
-Global steel prices [are] surging, This is happening at the same time as the U.S. steel market is enduring "acute shortages" in supply.
-GLJ sees "massive ... liquidity" from government stimulus efforts, and more coming down the pike from a "stimulus-friendly Biden Administration."
- In GLJ's view, U.S. Steel, which cost $11 and change yesterday could conceivably soar as high as $17.30 over the next 12 months
fool.com/investing/2020/11/24/why-us-steel-cleveland-cliffs-and-aluminum-corpora/
streetinsider.com/Analyst+Comments/GLJ+Research+Upgrades+US+Steel+(X)+to+Buy/17641881.html
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.