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Morgan Stanley Upgrades U.S. Steel on Structure Improvements in the Steel Industry

 (Image source: valuewalk)

United States Steel Corporation (NYSE:X) was upgraded by Morgan Stanley from equal weight to overweight on improving profit margins as a result of managements effective cost cutting strategy. Morgan also believes that the steel industry in the U.S. is experiencing significant improves in supply and demand, which will benefit United States Steel Corporation. As a result, the price target was increased to $35 per share. Goldman Sachs also sees a recovery in steel prices and structural improvement favorable to the steel industry. In the last three months, the stock has been up 45 percent. Currently, shares are trading above 1 percent.