UBS analyst Lee Power downgraded Bluescope Steel to Neutral from Buy with a price target of A$20.80, down from A$23.20. The firm cites U.S. spreads that are expected to return to “normal” faster than consensus, as well as a short-lived East Asia spread recovery for the downgrade.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>