Tharani also backed a "Sell" rating for U.S. Steel Corp., saying that its fortunes are the most closely tied to fluctuations in steel prices. U.S. Steel shares tumbled $1.09, or 5.7 percent, to $18.04.But Tharani raised his rating for Commercial Metals Co. to "Neutral" from "Sell" and increased his price target for the company by $1.50 to $14, saying that its shares reflect the company's risks after dropping 14 percent over the last 12 months. Still, Tharani cut earnings estimates for the company for this year.
Sector Snap: Steel Shares Slide
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts