U.S. Steel upgraded to Outperform from Underperform at Credit Suisse Credit Suisse upgraded U.S. Steel two notches to Outperform from Underperform. The firm believes U.S. Steel is on the cusp of a multi-billion dollar earnings opportunity driven by raw material cost advantages and a supportive macro environment. The analyst said the company ability to produce Direct Reduced Iron using vertically integrated iron ore allowing it to produce low cost steel and the macro environment of demand strength, trade cases and consolidation should allow for better supply side rationalization and pricing. Price target raised to $50 from $25.
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