BMO Capital analyst Katja Jancic downgraded U.S. Steel (X) to Market Perform from Outperform with an unchanged price target of $45. The current share price is nearing fair fundamental value, the analyst tells investors in a research note. The firm says that while Nippon transaction remains a possibility given ongoing conversation with the government, “significant uncertainty remains” as President Trump has been supportive of Nippon investing in U.S. Steel but has spoken against full ownership. This uncertainty is “too great at this point to maintain an Outperform recommendation solely based on the premise the transaction is completed,” contends BMO.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on X:
- Lululemon reports Q4 beat, CoreWeave IPO priced at $40: Morning Buzz
- Morning Movers: U.S. Steel climbs following report of renewed Nippon talks
- Nippon Steel, U.S. Steel in active talks about deal, Semafor says
- U.S. Steel Stock (X) Jumps as Nippon Sweetens its Offer to Woo the U.S.
- Canadian Metal Workers Are Caught in the Trade War Crossfire