The analysts wrote, ?We are upgrading our rating on the shares of United States Steel from Neutral to Outperform. We see a number of compelling industry and company specific datapoints which suggest that 4Q will prove the earnings trough, with an expected steel price recovery pushing the shares higher over the next 3 months. We are increasing our 12-month target price from $20 to $30, which represents 5.2x our 2014 EBITDA estimate. We raise our 2013 estimate from $1.48 to $1.72 and 2014 from $2.02 to $3.00. X is trading at a 22% discount to the group average and a 16% discount to its historical 1-year forward EBITDA of 5.6x.? U.S. Steel traded up 8.18% on Wednesday, hitting $25.7999. U.S. Steel has a 52-week low of $17.67 and a 52-week high of $32.52. The stock?s 50-day moving average is currently $22.31. The company?s market cap is $3.722 billion.
U.S. Steel last released its earnings data on Tuesday, October 30th. The company reported $0.01 EPS for the quarter. The company had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.64 billion. The company?s quarterly revenue was down 8.4% on a year-over-year basis. Analysts expect that U.S. Steel will post $0.84 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Nomura reiterated a ?neutral? rating on shares of U.S. Steel in a research note to investors on Thursday, December 20th. They now have a $20.00 price target on the stock. Separately, analysts at Zacks reiterated a ?neutral? rating on shares of U.S. Steel in a research note to investors on Wednesday, December 12th. They now have a $24.00 price target on the stock. Finally, analysts at Longbow Research downgraded shares of U.S. Steel from a ?neutral? rating to an ?underperform? rating in a research note to investors on Monday, December 10th. They now have a $17.00 price target on the stock. United States Steel Corporation (U. S. Steel) produces and sells steel mill products, including flat-rolled and tubular products, in North America and Europe.