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Steel stocks rise as Deutsche Bank says solid fundamentals not priced in

Published 03/29/2018, 11:21 AM
Updated 03/29/2018, 11:21 AM
© Reuters.  Steel stocks rise as Deutsche Bank says solid fundamentals not priced in
  • Steel stocks are higher, thanks in part to a bullish outlook from Deutsche Bank (DE:DBKGn), which reiterates Buy recommendations for U.S. Steel (X +5.4%), AK Steel (AKS +4.7%), Nucor (NUE +2.5%), Steel Dynamics (STLD +2.7%), Commercial Metals (CMC +1.6%), Reliant Steel (RS +3.2%) and Ryerson Holding (RYI +2.5%).
  • Steel stocks have been hurt by tariff exemptions, sending most to the same levels as late last year, but the firm thinks plenty of room remains to be positive on the stocks, which are not pricing in solid fundamentals.
  • Deutsche Bank believes more upward revisions and stock upgrades will come as companies begin reporting Q1 results and provide updated guidance.
  • Earlier: U.S. Steel to benefit from higher prices, supply shortage, analyst says (Mar. 29)
  • Now read: Reliance Steel: Strong Performer, Great Long-Term Investment


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