Steel Molten Hot

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These steel companies put through price increases so fast it is hard to put a multiple on them.

Right now, with U.S. Steel's(X Quote) growth rate a historic 5%, you simply can't justify its 12 multiple.

But if you put through several price increases in a quarter, the earnings estimates are, as you know, dead wrong. We see as much from the UBS target-boost, and the $200-a-share target. (Elsewhere, I have a piece about Johnny-come-lately and off-course analyst upgrades, but this one still has resonance because it is not an upgrade from hold.) ...