U.S. Steel can cut at least $1B in cost savings, says Goldman Goldman's analysis suggests U.S. Steel can cut costs by more than $1B over the next few years. The analyst expects management to be aggressive in its actions to make earnings sustainable through the cycle, driving shares significantly higher. The firm rates shares a Buy with a $36 price target.
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U.S. Steel breaks out following results, levels to watch The company reported much stronger than expected results after market close Tuesday, and the shares have broken out and are trading up over 14.5% to $31.73. At that price the shares are above the $30 area which has been the top of a trading range for nearly two years. A range breakout typically persists in the direction of the breakout for an extended period of time. Resistance is at the new 52-week high at $32.32 and then at $33.24.