Exane BNP Paribas downgraded U.S. Steel to Neutral from Outperform with a $26 price target. The analyst sees “powerful demand forces at play” for the U.S. construction-exposed steelmakers and a “uniquely strong” outlook for rebar and plate. The firm is turning more selective in steel on product mix, coalescing into a “once-in-a-lifetime event de-risking years of performance.”
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