Energy - Precious Metals - Agriculture - ETC.

Send me real-time posts from this site at my email
Bruce Jefferson

US Steel Investors May Be In For A Reality Check

Shares of United States Steel Corporation X have traded higher by 17.2 percent in the past three months, but Longbow Research analyst Chris Olin believes the stock could be headed lower in the near term. According to Olin, there is a disconnect between positive investor sentiment and deteriorating market fundamentals, particularly in oil country tubular goods .

“Over the past 2-3 weeks, our proprietary channel work has detected slower-than-expected demand trends, inventory drawdown pressure, and price vulnerability for the two main operating segments in the portfolio (Domestic Steel and Tubular),” Olin said.

Olin said he sees limited EBIT upside for U.S. Steel over the next several quarters. Read more

Looks like some upside still holds. 

$X, United States Steel Corporation / D