Morgan Stanley Upgrades United States Steel to Overweight, Lowers Price Target to $48
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Carlos De Alba upgraded United States Steel (NYSE:X) from Equal-Weight to Overweight but lowered the price target from $51 to $48.
May 06, 2024 | 9:40 am
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United States Steel was upgraded by Morgan Stanley from Equal-Weight to Overweight, although the price target was reduced from $51 to $48.
The upgrade to Overweight by a major analyst like Morgan Stanley suggests a positive outlook on the stock's future performance, potentially leading to increased investor interest and a rise in stock price. However, the reduction in the price target might temper some of the positive momentum by indicating a more conservative view on the stock's valuation.
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