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Sell U.S. Steel and AK Steel as prices to drop 17% through 2019, UBS says [Seeking Alpha]

AK Steel Holdings (AKS)  More Company Research Source: Seeking Alpha
Last ak steel holdings earnings: 10/25 04:45 pm Check Earnings Report
US:NYSE Investor Relations: ir.aksteel.com/investor-relations
PDF Sell U.S. Steel and AK Steel as prices to drop 17% through 2019, UBS saysU.S. Steel (X+4.3%) and AK Steel (AKS+3.2%) enjoy sharp upward moves ascommodity prices surge across the board today, but UBS analystscome out bearish, saying Pres. Trump's tariffs should do little to delay a 17% drop in U.S. steel prices through the end of 2019.The tariffs "resulted in lower imports and limited supply, creating volatility, but we expect the market to return to equilibrium," says UBS's Andreas Bokkenheuser, as he initiates coverage of X and AKS with Sell ratings and respective $30 and $3.25 price targets."We closely track China as a primary leading indicator of U.S. steel prices (by one month), and conclude that risk to prices and the domestic spread is to the downside," Bokkenheuser writes, also starting coverage of Steel Dynamics (STLD+3.1%) with a Neutral rating and $47 price target.The UBS view differs with a more optimistic outlooks from analysts at Cowen and Longbow, while Morgan Stanley to [Read more]

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