Industry News

U.S. Steel Stock Drops as Analyst Says the Good Times Are Ending.

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Update time : 2021-10-18 22:35:09

Steel prices have been on an epic tear, boosting stocks of companies that produce the metal. Wall Street, however, is starting to worry about falling prices. Stocks related to a commodity always have a tough time when prices for that product weaken.

Monday, Morgan Stanley analyst Carlos De Alba downgraded United States Steel (ticker: X) stock to the equivalent of Sell from Hold. He cut his target price by more than 50% to $17 a share from $35.

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