downgraded at Goldman Sachs to Sell from Neutral. See shares as overvalued relative to other steel stocks, and believe lower scrap prices in June will act as a negative catalyst. Price target at $38.
downgraded at Goldman Sachs to Sell from Neutral due to sales pressure in Western Europe, potential pricing pressure caused by limited U.S. brand portfolio and higher pension expenses. Note relatively low valuation but expect shares to lag over next 12 months. Price target lowered to $9.50 from $10.
upgraded at Credit Suisse to Neutral from Underperform. Cites bankability, new Chinese incentives, and more clarity around the GSF arrangement. Price target increased to $16.50 from $8.50.
upgraded at RBC from Sector Perform to Outperform. $25 price target. Company is reaching an inflection point, following 3 years of struggles.
upgraded at Goldman Sachs to Neutral from Sell based on improving 2010 outlook. Note improved balance sheet and expect benefits from rising oil and gas prices and restrictions on Chinese imports. European operations could benefit from lower iron ore and coking coal prices while declining inventory levels will eventually become a catalyst. Price target raised to $34 from $28.
(YHOO - Get Report)
upgraded at Barclays to Overweight from Equal Weight. Cites better structuring, technological innovations, and positioning themselves to benefit from a rebound in advertising. Target price increased to $20 from $15.
STOCK COMMENTS / EPS CHANGES
(BG - Get Report)
target raised at Morgan Stanley to $64. Fundamental risks appear to be declining. Equal-weight rating.
(BLL - Get Report)
added to U.S. 1 list at Merrill Lynch/Bank of America. Stock is trading at an attractive valuation and has near-term catalysts. Buy rating and $48 price target.