US Steel's $3 Billion Mini-Mill Sparks Stock Upgrade: What Investors Need To Know
Portfolio Pulse from Michael Juliano
U.S. Steel Corporation (NYSE:X) has received a stock upgrade from BMO Capital Markets due to optimism surrounding its $3 billion Mini-Mill project in Osceola, Arkansas. The new plant is expected to significantly boost profitability by 2026. U.S. Steel shares rose 3.42% following the news.
June 26, 2024 | 7:20 pm
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POSITIVE IMPACT
U.S. Steel Corporation (NYSE:X) has been upgraded by BMO Capital Markets from Market Perform to Outperform due to the anticipated profitability from its $3 billion Mini-Mill project. The project is expected to enhance through-cycle profitability and achieve a run-rate EBITDA of $200 million by 2026.
The upgrade by BMO Capital Markets is a strong positive signal for investors, indicating confidence in U.S. Steel's future profitability due to the new Mini-Mill project. The expected increase in EBITDA and the completion of key project milestones further support a positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100