United States Steel (NYSE:X – Get Free Report) was upgraded by Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report released on Monday, Marketbeat.com reports. The brokerage currently has a $48.00 target price on the basic materials company’s stock, down from their previous target price of $51.00. Morgan Stanley’s price objective would indicate a potential upside of 25.89% from the company’s current price.
Several other equities analysts also recently issued reports on X. StockNews.com began coverage on United States Steel in a research report on Monday, April 29th. They set a “hold” rating for the company. BMO Capital Markets cut their price target on shares of United States Steel from $55.00 to $45.00 and set a “market perform” rating for the company in a report on Tuesday, March 19th. JPMorgan Chase & Co. lowered their price objective on shares of United States Steel from $47.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Finally, Wolfe Research raised shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 target price for the company in a research note on Tuesday, April 9th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $38.00.
Read Our Latest Stock Analysis on United States Steel
United States Steel Stock Up 0.2 %
Institutional Trading of United States Steel
Large investors have recently added to or reduced their stakes in the company. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of United States Steel during the fourth quarter worth approximately $25,000. Byrne Asset Management LLC lifted its position in United States Steel by 1,140.0% in the 1st quarter. Byrne Asset Management LLC now owns 620 shares of the basic materials company’s stock worth $25,000 after buying an additional 570 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of United States Steel during the 4th quarter valued at $33,000. Riverview Trust Co purchased a new position in shares of United States Steel during the 1st quarter valued at $29,000. Finally, Pineridge Advisors LLC acquired a new position in shares of United States Steel in the fourth quarter worth $44,000. 81.92% of the stock is owned by institutional investors and hedge funds.
About United States Steel
United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. The company operates through North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular) segments. The Flat-Rolled segment offers slabs, strip mill plates, sheets, and tin mill products, as well as iron ore and coke.
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