Toekomstbeeld schreef op 19 juni 2017 15:20:
Steel Stocks Could Have Up to 50% Upside
Bret Kenwell Bret Kenwell Follow Jun 19, 2017 9:03 AM EDT
Almost all investors have been watching tech stocks, as that's where the big gains have been -- and where the recent volatility has materialized. Amazon (AMZN) buying Whole Foods (WFM) only added to that attention on Friday.
However, there's another industry that at least one analyst believes
can have big upside: Steel.Analysts at Longbow Research upgraded AK Steel (AKS) , Nucor (NUE) , Steel Dynamics (STLD) , U.S. Steel (X) to a buy rating. They assigned a price target of $10 to AK Steel, implying upside of about 40%, a price target of $66 on Nucor, implying upside of about 20% and a price target of $30 on U.S. steel, implying upside of 50%. Analysts assigned a $40 price target to Steel Dynamics, implying upside of about 21%.
Investors are hopeful, given that shares of these stocks are down mid-single digits over the past three trading sessions.
According to the analysts, U.S. Steel and AK Steel have much more upside than Nucor and Steel Dynamics. But given Nucor and Steel Dynamic's year-to-date performance -- down just 7.7% and 6.7%, respectively -- the price targets do not leave as much room for a big rally. This is especially true when considering that U.S. Steel and AK Steel are down about 40% on the year.
www.thestreet.com/story/14184463/1/st...