Jefferies Lowers Estimates on U.S Steel; Cuts PT (X)
Jefferies reported on Tuesday that it has lowered its estimates on steel company, United States Steel Corporation (X).
The firm has reduced its estimates on U.S. Steel, and has lowered its price target to $18. This price target suggests a 7% upside from the stock’s current price of $16.77.
Jefferies currently has a “Hold” rating on the company due to a drop in demand for steel and lower pricing.
United States Steel shares were up 14 cents, or 0.84% during Tuesday morning trading. The stock has dropped -41% in the past year.
The Bottom Line
Shares of United States Steel Corporation (X) have a 1.18% yield, based on Tuesday morning’s price of $16.91.
United States Steel Corporation (X) is not recommended at this time, holding a Dividend.com DARS™ Rating of 2.9 out of 5 stars.
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