U.S. Steel Upgraded by Credit Suisse to “Outperform” (X) - InvestingChannel

U.S. Steel Upgraded by Credit Suisse to “Outperform” (X)

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.